Exact Sciences Corporation (EXAS) Short Interest Update
Exact Sciences Corporation (NASDAQ:EXAS) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 16,290,094 shares, a decrease of 11.3% from the August 31st total of 18,365,552 shares. Currently, 14.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,406,353 shares, the short-interest ratio is presently 11.6 days.
A number of equities analysts have weighed in on the company. Leerink Swann reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Exact Sciences Corporation in a research report on Thursday, September 21st. Vetr downgraded shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $36.37 price objective on the stock. in a report on Thursday, July 6th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective (up from $45.00) on shares of Exact Sciences Corporation in a report on Tuesday. BidaskClub raised shares of Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Finally, BTIG Research reissued a “buy” rating and issued a $45.00 price objective (up previously from $35.00) on shares of Exact Sciences Corporation in a research report on Monday, July 17th. Five investment 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $43.11.
In related news, SVP D Scott Coward sold 29,115 shares of Exact Sciences Corporation stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $1,373,063.40. Following the sale, the senior vice president now owns 64,991 shares of the company’s stock, valued at approximately $3,064,975.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas D. Carey bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $37.71 per share, for a total transaction of $94,275.00. Following the transaction, the director now owns 60,858 shares in the company, valued at approximately $2,294,955.18. The disclosure for this purchase can be found here. Insiders have sold 237,444 shares of company stock valued at $10,412,421 over the last ninety days. 4.00% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Fortaleza Asset Management Inc. bought a new position in shares of Exact Sciences Corporation during the second quarter valued at about $106,000. Krilogy Financial LLC boosted its holdings in Exact Sciences Corporation by 1,460.0% during the second quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after purchasing an additional 3,650 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Exact Sciences Corporation by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after purchasing an additional 600 shares during the last quarter. Financial Architects Inc boosted its holdings in Exact Sciences Corporation by 90.0% during the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in Exact Sciences Corporation by 25.9% during the second quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.
Exact Sciences Corporation (NASDAQ:EXAS) opened at 49.12 on Wednesday. The stock’s 50 day moving average is $42.56 and its 200 day moving average is $34.76. Exact Sciences Corporation has a 1-year low of $13.05 and a 1-year high of $50.65. The firm’s market capitalization is $5.85 billion.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.10. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. The business had revenue of $57.65 million for the quarter, compared to analysts’ expectations of $47.73 million. Analysts predict that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.
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About Exact Sciences Corporation
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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