Exact Sciences Corporation (NASDAQ:EXAS) Short Interest Update
Exact Sciences Corporation (NASDAQ:EXAS) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 18,237,019 shares, a decline of 11.2% from the July 14th total of 20,541,875 shares. Based on an average trading volume of 2,797,106 shares, the short-interest ratio is presently 6.5 days. Approximately 15.7% of the shares of the stock are short sold.
Shares of Exact Sciences Corporation (EXAS) opened at 38.74 on Tuesday. The company has a 50-day moving average of $37.72 and a 200-day moving average of $29.14. The stock’s market capitalization is $4.61 billion. Exact Sciences Corporation has a 12-month low of $13.05 and a 12-month high of $42.18.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.10. The business had revenue of $57.65 million during the quarter, compared to analyst estimates of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. Equities analysts expect that Exact Sciences Corporation will post ($1.18) earnings per share for the current fiscal year.
In other news, CFO Jeffrey Thomas Elliott sold 5,846 shares of Exact Sciences Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $39.41, for a total transaction of $230,390.86. Following the completion of the sale, the chief financial officer now directly owns 19,861 shares in the company, valued at $782,722.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP D Scott Coward sold 1,987 shares of Exact Sciences Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.21, for a total transaction of $69,962.27. Following the sale, the senior vice president now owns 57,603 shares of the company’s stock, valued at $2,028,201.63. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Fortaleza Asset Management Inc. bought a new stake in Exact Sciences Corporation during the second quarter worth about $106,000. Northwestern Mutual Wealth Management Co. raised its stake in Exact Sciences Corporation by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after buying an additional 600 shares during the period. Financial Architects Inc raised its stake in Exact Sciences Corporation by 90.0% in the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after buying an additional 2,035 shares during the period. Johnson Financial Group Inc. raised its stake in Exact Sciences Corporation by 25.9% in the second quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after buying an additional 1,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Exact Sciences Corporation by 66.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,052 shares of the medical research company’s stock worth $179,000 after buying an additional 2,013 shares during the period. 85.44% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on EXAS. Jefferies Group LLC reiterated a “buy” rating and set a $25.00 price target on shares of Exact Sciences Corporation in a report on Wednesday, April 26th. Cowen and Company lifted their price target on shares of Exact Sciences Corporation from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Leerink Swann set a $38.00 price target on shares of Exact Sciences Corporation and gave the stock a “buy” rating in a report on Friday, April 28th. Vetr downgraded shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $36.37 price target for the company. in a report on Thursday, July 6th. Finally, Roth Capital reiterated a “buy” rating and set a $40.00 price target (up from $33.00) on shares of Exact Sciences Corporation in a report on Thursday, June 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Exact Sciences Corporation presently has a consensus rating of “Buy” and an average price target of $40.51.
Exact Sciences Corporation Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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