Renaissance Technologies LLC increased its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 130.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 808,600 shares of the medical research company’s stock after acquiring an additional 457,300 shares during the period. Renaissance Technologies LLC owned approximately 0.68% of Exact Sciences Corporation worth $28,600,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. purchased a new position in Exact Sciences Corporation in the second quarter worth about $106,000. Northwestern Mutual Wealth Management Co. grew its position in Exact Sciences Corporation by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after acquiring an additional 600 shares in the last quarter. Financial Architects Inc grew its position in Exact Sciences Corporation by 90.0% in the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after acquiring an additional 2,035 shares in the last quarter. Johnson Financial Group Inc. grew its position in Exact Sciences Corporation by 25.9% in the second quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Exact Sciences Corporation by 66.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,052 shares of the medical research company’s stock worth $179,000 after acquiring an additional 2,013 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.
In related news, insider Graham Peter Lidgard sold 81,025 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $3,821,139.00. Following the sale, the insider now owns 366,519 shares of the company’s stock, valued at $17,285,036.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP D Scott Coward sold 29,115 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the sale, 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. In the last three months, insiders have sold 237,444 shares of company stock worth $10,412,421. 4.00% of the stock is owned by insiders.
Exact Sciences Corporation (EXAS) opened at 47.20 on Tuesday. The firm’s market cap is $5.62 billion. The company’s 50 day moving average is $44.75 and its 200 day moving average is $36.31. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $50.65.
Exact Sciences Corporation (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.10. The firm had revenue of $57.65 million for the quarter, compared to the consensus estimate of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. Equities research analysts forecast that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.
EXAS has been the subject of several recent research reports. Vetr lowered Exact Sciences Corporation from a “strong-buy” rating to a “buy” rating and set a $37.46 price target 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 lifted their price target on Exact Sciences Corporation from $35.00 to $41.00 in a research report on Friday, July 7th. Benchmark Co. set a $50.00 target price 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 target price (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 assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $43.71.
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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