Granahan Investment Management LLC Trims Holdings in Exact Sciences Corporation $EXAS

Granahan Investment Management LLC trimmed its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 12.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,918 shares of the medical research company’s stock after selling 40,589 shares during the quarter. Granahan Investment Management LLC’s holdings in Exact Sciences were worth $15,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Marshall Wace LLP grew its holdings in Exact Sciences by 1,553.1% in the second quarter. Marshall Wace LLP now owns 429,719 shares of the medical research company’s stock worth $22,835,000 after purchasing an additional 403,724 shares during the period. Holocene Advisors LP lifted its holdings in shares of Exact Sciences by 189.5% during the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Exact Sciences by 25.5% during the third quarter. Fisher Asset Management LLC now owns 198,287 shares of the medical research company’s stock valued at $10,848,000 after purchasing an additional 40,258 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Exact Sciences by 643.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock worth $70,390,000 after purchasing an additional 1,113,459 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Exact Sciences by 255.4% in the 2nd quarter. Prudential Financial Inc. now owns 34,720 shares of the medical research company’s stock worth $1,845,000 after buying an additional 24,951 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 0.3%

Exact Sciences stock opened at $103.57 on Monday. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $103.75. The stock has a fifty day simple moving average of $102.83 and a two-hundred day simple moving average of $84.12. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97. The firm has a market cap of $19.77 billion, a price-to-earnings ratio of -94.15, a PEG ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. During the same period in the prior year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on EXAS. Craig Hallum lowered Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a report on Thursday, January 22nd. BTIG Research cut Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Benchmark lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Twenty-one investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Exact Sciences currently has an average rating of “Reduce” and an average target price of $92.13.

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.