Lord Abbett & CO. LLC Has $83.36 Million Position in Exact Sciences Corporation (EXAS)
Lord Abbett & CO. LLC boosted its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 59.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,356,706 shares of the medical research company’s stock after purchasing an additional 875,527 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.98% of Exact Sciences Corporation worth $83,357,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Exact Sciences Corporation by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after purchasing an additional 700,051 shares during the period. BlackRock Inc. boosted its position in Exact Sciences Corporation by 1.2% during the 2nd quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after purchasing an additional 80,589 shares during the period. Point72 Asset Management L.P. boosted its position in Exact Sciences Corporation by 1,534.3% during the 1st quarter. Point72 Asset Management L.P. now owns 2,500,476 shares of the medical research company’s stock valued at $59,061,000 after purchasing an additional 2,347,476 shares during the period. Fred Alger Management Inc. acquired a new position in Exact Sciences Corporation during the 2nd quarter valued at approximately $84,177,000. Finally, FMR LLC boosted its position in Exact Sciences Corporation by 32.7% during the 2nd quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after purchasing an additional 571,796 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.
Exact Sciences Corporation (EXAS) traded down 0.0210% during mid-day trading on Tuesday, hitting $47.1901. The stock had a trading volume of 350,497 shares. The stock has a 50 day moving average of $44.75 and a 200-day moving average of $36.31. The firm’s market cap is $5.62 billion. Exact Sciences Corporation has a 1-year low of $13.05 and a 1-year high of $50.65.
Exact Sciences Corporation (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.10. The firm had revenue of $57.65 million for the quarter, compared to analyst estimates of $47.73 million. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. Analysts predict that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.
In other news, CFO Jeffrey Thomas Elliott sold 5,846 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $39.41, for a total value of $230,390.86. Following the transaction, the chief financial officer now owns 19,861 shares of the company’s stock, valued at approximately $782,722.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP D Scott Coward sold 29,115 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the transaction, the senior vice president now directly owns 64,991 shares in the company, valued at approximately $3,064,975.56. The disclosure for this sale can be found here. Insiders sold a total of 237,444 shares of company stock worth $10,412,421 over the last quarter. Corporate insiders own 4.00% of the company’s stock.
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A number of research analysts recently issued reports on EXAS shares. Vetr lowered Exact Sciences Corporation from a “strong-buy” rating to a “buy” rating and set a $37.46 price objective for the company. in a research report on Monday, June 19th. BidaskClub upgraded Exact Sciences Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Craig Hallum boosted their price objective on Exact Sciences Corporation from $35.00 to $41.00 in a research report on Friday, July 7th. Benchmark Co. set a $50.00 price objective on Exact Sciences Corporation and gave the company a “buy” rating in a research report on Friday, July 7th. Finally, BTIG Research restated a “buy” rating and set 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Exact Sciences Corporation currently has an average rating of “Buy” and a consensus price target of $43.71.
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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