HRT Financial LLC Acquires New Holdings in EXACT Sciences Co. (EXAS)

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HRT Financial LLC acquired a new position in shares of EXACT Sciences Co. (NASDAQ:EXAS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,053 shares of the medical research company’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in EXACT Sciences by 70.9% in the second quarter. Public Employees Retirement System of Ohio now owns 145,144 shares of the medical research company’s stock worth $8,678,000 after buying an additional 60,212 shares in the last quarter. Private Wealth Partners LLC boosted its stake in EXACT Sciences by 16.7% in the second quarter. Private Wealth Partners LLC now owns 70,000 shares of the medical research company’s stock worth $4,185,000 after buying an additional 10,000 shares in the last quarter. Granahan Investment Management Inc. MA boosted its stake in EXACT Sciences by 38.5% in the second quarter. Granahan Investment Management Inc. MA now owns 415,137 shares of the medical research company’s stock worth $24,821,000 after buying an additional 115,507 shares in the last quarter. Newtyn Management LLC purchased a new stake in EXACT Sciences in the second quarter worth approximately $8,969,000. Finally, Tower Research Capital LLC TRC purchased a new stake in EXACT Sciences in the second quarter worth approximately $262,000. 86.39% of the stock is owned by institutional investors.

Shares of NASDAQ:EXAS traded up $0.81 during trading on Friday, reaching $67.22. 1,560,740 shares of the company traded hands, compared to its average volume of 2,491,924. The firm has a market cap of $9.69 billion, a PE ratio of -67.90 and a beta of 0.98. EXACT Sciences Co. has a 52-week low of $37.36 and a 52-week high of $81.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 15.37 and a current ratio of 15.79.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $102.89 million during the quarter, compared to analyst estimates of $104.40 million. EXACT Sciences had a negative return on equity of 20.10% and a negative net margin of 35.24%. The business’s quarterly revenue was up 78.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. Research analysts predict that EXACT Sciences Co. will post -1.41 EPS for the current year.

EXAS has been the subject of several research reports. Cowen upped their target price on EXACT Sciences from $65.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Bank of America upped their target price on EXACT Sciences from $68.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, September 6th. BidaskClub lowered EXACT Sciences from a “buy” rating to a “hold” rating in a research note on Friday, September 14th. UBS Group started coverage on EXACT Sciences in a research note on Tuesday. They issued a “buy” rating and a $100.00 target price for the company. Finally, Robert W. Baird increased their price objective on EXACT Sciences from $74.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued 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 a consensus price target of $83.25.

In related news, CFO Jeffrey Thomas Elliott sold 8,984 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $57.78, for a total transaction of $519,095.52. Following the completion of the transaction, the chief financial officer now owns 22,690 shares in the company, valued at $1,311,028.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Graham Peter Lidgard sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $69.36, for a total value of $4,022,880.00. Following the transaction, the insider now owns 204,684 shares of the company’s stock, valued at approximately $14,196,882.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,069 shares of company stock valued at $5,102,545. 3.20% of the stock is owned by corporate insiders.

EXACT Sciences Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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