Zevenbergen Capital Investments LLC Has $52.87 Million Stock Holdings in Exact Sciences Corporation $EXAS

Zevenbergen Capital Investments LLC lowered its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 966,271 shares of the medical research company’s stock after selling 51,912 shares during the quarter. Exact Sciences accounts for 1.0% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 28th biggest position. Zevenbergen Capital Investments LLC owned approximately 0.51% of Exact Sciences worth $52,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in Exact Sciences during the first quarter worth about $30,000. True Wealth Design LLC increased its stake in shares of Exact Sciences by 951.8% during the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after purchasing an additional 533 shares during the last quarter. Country Trust Bank bought a new stake in shares of Exact Sciences in the 2nd quarter valued at about $32,000. Bessemer Group Inc. raised its holdings in shares of Exact Sciences by 1,980.6% in the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 614 shares during the period. Finally, Bayforest Capital Ltd grew its holdings in Exact Sciences by 95.8% during the first quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company’s stock worth $40,000 after purchasing an additional 453 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the executive vice president directly owned 23,237 shares in the company, valued at approximately $1,742,775. This represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,858 shares of company stock worth $695,289 over the last ninety days. Insiders own 1.20% of the company’s stock.

Exact Sciences Stock Up 0.4%

NASDAQ:EXAS opened at $101.82 on Friday. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $102.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. The company has a market cap of $19.29 billion, a PE ratio of -19.14, a P/E/G ratio of 12.51 and a beta of 1.42. The firm’s 50 day simple moving average is $81.35 and its 200 day simple moving average is $61.79.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The company had revenue of $850.74 million for the quarter, compared to analyst estimates of $810.42 million. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. Exact Sciences’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) earnings per share. On average, research analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

EXAS has been the topic of a number of recent analyst reports. Robert W. Baird set a $105.00 target price on Exact Sciences in a report on Thursday, November 20th. Guggenheim cut Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Leerink Partnrs lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Wolfe Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Canaccord Genuity Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and raised their price target for the company from $85.00 to $105.00 in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.00.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.