Short Interest in EXACT Sciences Co. (NASDAQ:EXAS) Rises By 11.5%

EXACT Sciences Co. (NASDAQ:EXAS) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 14,380,000 shares, an increase of 11.5% from the December 15th total of 12,900,000 shares. Approximately 11.2% of the company’s stock are sold short. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is currently 6.9 days.

Several research analysts have commented on EXAS shares. Dougherty & Co started coverage on shares of EXACT Sciences in a report on Friday, December 13th. They set a “buy” rating and a $120.00 price target for the company. Jefferies Financial Group reduced their price objective on shares of EXACT Sciences from $138.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity reduced their price objective on shares of EXACT Sciences from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. ValuEngine cut shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus started coverage on shares of EXACT Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $110.00 target price for the company. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. EXACT Sciences presently has an average rating of “Buy” and an average target price of $122.06.

In other EXACT Sciences news, insider G Bradley Cole sold 28,016 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.38, for a total transaction of $2,251,926.08. Following the sale, the insider now owns 30,987 shares in the company, valued at approximately $2,490,735.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. United Services Automobile Association purchased a new position in EXACT Sciences during the 4th quarter worth approximately $3,027,000. Patten & Patten Inc. TN boosted its stake in shares of EXACT Sciences by 24.4% in the fourth quarter. Patten & Patten Inc. TN now owns 19,062 shares of the medical research company’s stock worth $1,763,000 after buying an additional 3,737 shares during the last quarter. DNB Asset Management AS grew its holdings in EXACT Sciences by 22.6% during the fourth quarter. DNB Asset Management AS now owns 16,433 shares of the medical research company’s stock worth $1,520,000 after acquiring an additional 3,025 shares during the period. Polianta Ltd acquired a new stake in EXACT Sciences during the fourth quarter worth about $1,183,000. Finally, American National Bank purchased a new position in EXACT Sciences during the fourth quarter valued at approximately $1,476,000. 86.59% of the stock is owned by institutional investors and hedge funds.

NASDAQ:EXAS traded up $1.29 during midday trading on Thursday, hitting $90.98. 89,282 shares of the company were exchanged, compared to its average volume of 2,000,074. EXACT Sciences has a fifty-two week low of $73.63 and a fifty-two week high of $123.99. The company has a market capitalization of $12.07 billion, a PE ratio of -66.87 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $91.53 and a 200 day simple moving average of $101.10.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.10. The company had revenue of $218.81 million during the quarter, compared to the consensus estimate of $216.14 million. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. EXACT Sciences’s revenue for the quarter was up 85.0% on a year-over-year basis. As a group, equities research analysts expect that EXACT Sciences will post -1.63 EPS for the current year.

About EXACT Sciences

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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