Moors & Cabot Inc. Sells 1,600 Shares of EXACT Sciences Co. (EXAS)

Moors & Cabot Inc. lessened its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 30.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,600 shares of the medical research company’s stock after selling 1,600 shares during the quarter. Moors & Cabot Inc.’s holdings in EXACT Sciences were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of EXACT Sciences by 2.6% during the third quarter. Vanguard Group Inc now owns 10,498,087 shares of the medical research company’s stock valued at $828,509,000 after acquiring an additional 261,239 shares during the last quarter. Geode Capital Management LLC increased its position in shares of EXACT Sciences by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 1,197,840 shares of the medical research company’s stock valued at $75,583,000 after acquiring an additional 69,128 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of EXACT Sciences by 10.0% during the first quarter. Eagle Asset Management Inc. now owns 1,096,623 shares of the medical research company’s stock valued at $94,989,000 after acquiring an additional 100,072 shares during the last quarter. Norges Bank purchased a new stake in shares of EXACT Sciences during the fourth quarter valued at approximately $67,273,000. Finally, Baillie Gifford & Co. increased its position in shares of EXACT Sciences by 3.5% during the first quarter. Baillie Gifford & Co. now owns 914,779 shares of the medical research company’s stock valued at $79,239,000 after acquiring an additional 30,885 shares during the last quarter. Institutional investors own 87.63% of the company’s stock.

A number of brokerages recently commented on EXAS. Jefferies Financial Group increased their price target on EXACT Sciences from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group increased their price target on EXACT Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Craig Hallum reaffirmed a “buy” rating and set a $115.00 price target (up from $95.00) on shares of EXACT Sciences in a research report on Wednesday, May 1st. Canaccord Genuity increased their price target on EXACT Sciences from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, BTIG Research increased their price target on EXACT Sciences to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. EXACT Sciences currently has a consensus rating of “Buy” and a consensus target price of $108.45.



In other EXACT Sciences news, insider Mark Stenhouse sold 11,192 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $92.54, for a total value of $1,035,707.68. Following the completion of the sale, the insider now directly owns 25,500 shares of the company’s stock, valued at $2,359,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin T. Conroy sold 11,227 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $87.21, for a total value of $979,106.67. Following the completion of the sale, the insider now directly owns 949,753 shares of the company’s stock, valued at $82,827,959.13. The disclosure for this sale can be found here. Insiders sold 60,201 shares of company stock valued at $5,543,493 over the last three months. Company insiders own 3.20% of the company’s stock.

NASDAQ:EXAS opened at $96.95 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 8.39 and a quick ratio of 8.13. EXACT Sciences Co. has a 1 year low of $47.78 and a 1 year high of $105.28. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of -71.29 and a beta of 1.84.

EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, April 30th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.01). EXACT Sciences had a negative return on equity of 28.83% and a negative net margin of 41.58%. The firm had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $153.07 million. During the same period in the prior year, the business earned ($0.33) earnings per share. The business’s quarterly revenue was up 79.4% compared to the same quarter last year. On average, equities research analysts predict that EXACT Sciences Co. will post -2.13 EPS for the current fiscal year.

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EXACT Sciences Company Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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