IFG Advisory LLC cut its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,675 shares of the medical research company’s stock after selling 2,424 shares during the quarter. EXACT Sciences accounts for about 1.0% of IFG Advisory LLC’s portfolio, making the stock its 18th biggest holding. IFG Advisory LLC’s holdings in EXACT Sciences were worth $5,627,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of EXAS. Buffington Mohr McNeal bought a new position in shares of EXACT Sciences during the first quarter worth about $30,000. Mosaic Family Wealth LLC acquired a new position in EXACT Sciences during the first quarter valued at approximately $37,000. Harvest Group Wealth Management LLC acquired a new position in EXACT Sciences during the first quarter valued at approximately $39,000. Manchester Capital Management LLC acquired a new position in EXACT Sciences during the first quarter valued at approximately $39,000. Finally, Parallel Advisors LLC boosted its position in EXACT Sciences by 196.2% during the first quarter. Parallel Advisors LLC now owns 471 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.
EXAS has been the subject of several recent research reports. BidaskClub cut EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group increased their price target on EXACT Sciences from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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. Canaccord Genuity reissued a “buy” rating and set a $125.00 price target (up from $118.00) on shares of EXACT Sciences in a research report on Wednesday, July 17th. Finally, 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. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. EXACT Sciences presently has a consensus rating of “Buy” and an average price target of $118.91.
Shares of NASDAQ EXAS traded down $2.83 during trading hours on Friday, reaching $115.04. 343,856 shares of the stock were exchanged, compared to its average volume of 2,184,317. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of -84.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.69 and a current ratio of 2.79. EXACT Sciences Co. has a 52 week low of $53.06 and a 52 week high of $123.99. The stock’s fifty day simple moving average is $116.90 and its 200 day simple moving average is $101.85.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, July 29th. The medical research company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.26. The company had revenue of $199.87 million for the quarter, compared to analyst estimates of $182.18 million. EXACT Sciences had a negative return on equity of 28.90% and a negative net margin of 35.43%. The firm’s quarterly revenue was up 94.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) earnings per share. Research analysts predict that EXACT Sciences Co. will post -1.74 EPS for the current fiscal year.
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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