Exact Sciences Corp. (NASDAQ:EXAS) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 24,589,079 shares, an increase of 6.4% from the September 15th total of 23,101,842 shares. Based on an average daily volume of 2,800,290 shares, the days-to-cover ratio is currently 8.8 days. Approximately 23.3% of the shares of the company are short sold.

Shares of Exact Sciences Corp. (NASDAQ:EXAS) opened at 18.54 on Friday. The stock’s market cap is $1.82 billion. The company’s 50-day moving average price is $19.24 and its 200-day moving average price is $12.81. Exact Sciences Corp. has a 52-week low of $4.67 and a 52-week high of $22.80.

Exact Sciences Corp. (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.09. Exact Sciences Corp. had a negative return on equity of 57.16% and a negative net margin of 277.74%. The business earned $21.20 million during the quarter, compared to analyst estimates of $18.54 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 161.7% compared to the same quarter last year. Analysts expect that Exact Sciences Corp. will post ($1.78) earnings per share for the current year.

Several brokerages recently commented on EXAS. Zacks Investment Research lowered shares of Exact Sciences Corp. from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Group boosted their price target on shares of Exact Sciences Corp. from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 4th. Craig Hallum set a $26.00 price target on shares of Exact Sciences Corp. and gave the stock a “buy” rating in a report on Sunday, September 4th. Goldman Sachs Group Inc. boosted their price target on shares of Exact Sciences Corp. from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, August 15th. Finally, Roth Capital reissued a “hold” rating and issued a $15.00 price target (up previously from $11.00) on shares of Exact Sciences Corp. in a report on Monday, August 1st. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Exact Sciences Corp. has a consensus rating of “Hold” and an average price target of $16.73.

In other news, Director Katherine S. Zanotti bought 3,380 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average cost of $17.93 per share, with a total value of $60,603.40. Following the acquisition, the director now directly owns 105,927 shares in the company, valued at $1,899,271.11. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lionel Sterling bought 5,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were purchased at an average cost of $18.10 per share, with a total value of $90,500.00. Following the completion of the acquisition, the director now owns 121,247 shares in the company, valued at $2,194,570.70. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in shares of Exact Sciences Corp. by 77.9% in the second quarter. PNC Financial Services Group Inc. now owns 9,090 shares of the company’s stock worth $111,000 after buying an additional 3,981 shares during the period. BlackRock Inc. raised its position in shares of Exact Sciences Corp. by 48.0% in the second quarter. BlackRock Inc. now owns 9,547 shares of the company’s stock worth $116,000 after buying an additional 3,097 shares during the period. Gofen & Glossberg LLC IL acquired a new position in shares of Exact Sciences Corp. during the second quarter worth about $130,000. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Exact Sciences Corp. during the second quarter worth about $134,000. Finally, ProShare Advisors LLC raised its position in shares of Exact Sciences Corp. by 0.9% in the second quarter. ProShare Advisors LLC now owns 11,843 shares of the company’s stock worth $145,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.

Exact Sciences Corp. Company Profile

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline.

5 Day Chart for NASDAQ:EXAS

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