Emerald Advisers Inc. PA Has $854,000 Position in EXACT Sciences Co. (EXAS)

Emerald Advisers Inc. PA cut its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 17.5% in the third quarter, HoldingsChannel.com reports. The firm owned 10,822 shares of the medical research company’s stock after selling 2,291 shares during the quarter. Emerald Advisers Inc. PA’s holdings in EXACT Sciences were worth $854,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in EXAS. Dimensional Fund Advisors LP grew its position in shares of EXACT Sciences by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 242,736 shares of the medical research company’s stock worth $9,790,000 after buying an additional 17,783 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of EXACT Sciences by 7.9% in the 1st quarter. Principal Financial Group Inc. now owns 187,778 shares of the medical research company’s stock worth $7,573,000 after buying an additional 13,799 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of EXACT Sciences by 707.4% in the 2nd quarter. Fisher Asset Management LLC now owns 55,621 shares of the medical research company’s stock worth $3,326,000 after buying an additional 48,732 shares during the last quarter. KAMES CAPITAL plc purchased a new position in shares of EXACT Sciences in the 2nd quarter worth approximately $46,879,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of EXACT Sciences in the 2nd quarter worth approximately $869,000. 86.52% of the stock is owned by institutional investors and hedge funds.

NASDAQ:EXAS opened at $74.20 on Friday. EXACT Sciences Co. has a twelve month low of $37.36 and a twelve month high of $81.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 15.37 and a current ratio of 12.08.

EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. The company had revenue of $118.29 million for the quarter, compared to the consensus estimate of $109.33 million. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. EXACT Sciences’s revenue was up 63.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.23) EPS. Sell-side analysts forecast that EXACT Sciences Co. will post -1.53 earnings per share for the current fiscal year.

In other EXACT Sciences news, insider Graham Peter Lidgard sold 79,673 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $71.73, for a total transaction of $5,714,944.29. Following the sale, the insider now owns 124,528 shares of the company’s stock, valued at approximately $8,932,393.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael S. Wyzga sold 2,468 shares of EXACT Sciences stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $74.85, for a total transaction of $184,729.80. Following the sale, the director now owns 9,112 shares of the company’s stock, valued at $682,033.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,331 shares of company stock worth $10,096,681. 3.20% of the stock is owned by insiders.

EXAS has been the topic of a number of analyst reports. BidaskClub downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. UBS Group set a $100.00 price objective on shares of EXACT Sciences and gave the stock a “buy” rating in a research report on Tuesday. Leerink Swann reaffirmed an “outperform” rating and issued a $76.00 price objective (up previously from $67.00) on shares of EXACT Sciences in a research report on Wednesday, July 18th. Jefferies Financial Group cut their price objective on shares of EXACT Sciences from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Finally, Robert W. Baird lifted their price objective on shares of EXACT Sciences from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. EXACT Sciences presently has a consensus rating of “Buy” and a consensus price target of $84.08.

About EXACT Sciences

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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