Exact Sciences Corporation (EXAS) Shares Sold by Redmond Asset Management LLC
Redmond Asset Management LLC cut its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 41.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,988 shares of the medical research company’s stock after selling 25,004 shares during the period. Redmond Asset Management LLC’s holdings in Exact Sciences Corporation were worth $1,696,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Exact Sciences Corporation in the 3rd quarter worth approximately $907,000. New York State Common Retirement Fund lifted its holdings in Exact Sciences Corporation by 35.1% in the 3rd quarter. New York State Common Retirement Fund now owns 211,819 shares of the medical research company’s stock worth $9,981,000 after purchasing an additional 55,078 shares in the last quarter. Private Wealth Partners LLC purchased a new position in Exact Sciences Corporation in the 3rd quarter worth approximately $1,414,000. Crescent Grove Advisors LLC purchased a new position in Exact Sciences Corporation in the 3rd quarter worth approximately $200,000. Finally, Pekin Singer Strauss Asset Management IL purchased a new position in Exact Sciences Corporation in the 3rd quarter worth approximately $212,000. 85.65% of the stock is currently owned by institutional investors.
Exact Sciences Corporation (EXAS) traded down $2.15 during midday trading on Monday, hitting $58.22. The stock had a trading volume of 1,371,238 shares, compared to its average volume of 2,105,743. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $63.60.
Exact Sciences Corporation (NASDAQ:EXAS) last released its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The firm had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. Exact Sciences Corporation had a negative return on equity of 30.32% and a negative net margin of 60.71%. The company’s revenue for the quarter was up 158.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.36) EPS. equities analysts expect that Exact Sciences Corporation will post -1.14 earnings per share for the current year.
In other Exact Sciences Corporation news, Director Thomas D. Carey acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $37.71 per share, with a total value of $94,275.00. Following the transaction, the director now directly owns 60,858 shares of the company’s stock, valued at approximately $2,294,955.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Graham Peter Lidgard sold 45,775 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total value of $2,453,540.00. Following the completion of the transaction, the insider now directly owns 272,819 shares in the company, valued at approximately $14,623,098.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 277,373 shares of company stock worth $12,635,570. Corporate insiders own 4.00% of the company’s stock.
A number of research firms recently commented on EXAS. Bank of America Corporation boosted their price target on Exact Sciences Corporation from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research cut Exact Sciences Corporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Benchmark Co. reissued a “buy” rating and issued a $60.00 price target (up from $50.00) on shares of Exact Sciences Corporation in a report on Tuesday, October 31st. Robert W. Baird boosted their price target on Exact Sciences Corporation from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Finally, Leerink Swann reissued an “outperform” rating and issued a $63.00 price target (up from $50.00) on shares of Exact Sciences Corporation in a report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $49.98.
Exact Sciences Corporation 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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