Victory Capital Management Inc. acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 832,610 shares of the medical research company’s stock, valued at approximately $29,450,000. Victory Capital Management Inc. owned about 0.70% of Exact Sciences Corporation 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. Suntrust Banks Inc. increased its position in shares of Exact Sciences Corporation by 1.5% in the first quarter. Suntrust Banks Inc. now owns 18,478 shares of the medical research company’s stock worth $436,000 after buying an additional 277 shares during the period. Stifel Financial Corp increased its position in shares of Exact Sciences Corporation by 1.5% in the first quarter. Stifel Financial Corp now owns 21,475 shares of the medical research company’s stock worth $506,000 after buying an additional 310 shares during the period. Prudential Financial Inc. increased its position in shares of Exact Sciences Corporation by 3.0% in the first quarter. Prudential Financial Inc. now owns 11,141 shares of the medical research company’s stock worth $263,000 after buying an additional 320 shares during the period. Lincoln National Corp increased its position in shares of Exact Sciences Corporation by 7.8% in the second quarter. Lincoln National Corp now owns 10,104 shares of the medical research company’s stock worth $357,000 after buying an additional 728 shares during the period. Finally, Baker Avenue Asset Management LP increased its position in shares of Exact Sciences Corporation by 2.3% in the first quarter. Baker Avenue Asset Management LP now owns 35,251 shares of the medical research company’s stock worth $833,000 after buying an additional 795 shares during the period. Institutional investors own 85.22% of the company’s stock.

Shares of Exact Sciences Corporation (NASDAQ EXAS) opened at 41.62 on Friday. The stock’s 50 day moving average price is $39.07 and its 200 day moving average price is $31.12. The stock’s market capitalization is $4.96 billion. Exact Sciences Corporation has a one year low of $13.05 and a one year high of $42.18.

Exact Sciences Corporation (NASDAQ:EXAS) last released its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.10. The business had revenue of $57.65 million for the quarter, compared to the consensus estimate of $47.73 million. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. Equities research analysts predict that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.

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A number of research analysts recently commented on EXAS shares. Vetr raised Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 price target on the stock in a report on Tuesday, July 25th. Lake Street Capital boosted their price target on Exact Sciences Corporation from $30.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, July 26th. Roth Capital boosted their price target on Exact Sciences Corporation from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Cowen and Company boosted their price target on Exact Sciences Corporation from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, BTIG Research reissued a “buy” rating and issued a $45.00 price target (up from $35.00) on shares of Exact Sciences Corporation in a report on Monday, July 17th. Six analysts have rated the stock with a hold rating, ten have given 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 $40.98.

In related news, CFO Jeffrey Thomas Elliott sold 5,846 shares of Exact Sciences Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $39.41, for a total transaction of $230,390.86. Following the transaction, the chief financial officer now owns 19,861 shares in the company, valued at $782,722.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP D Scott Coward sold 1,987 shares of Exact Sciences Corporation stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $35.21, for a total value of $69,962.27. Following the transaction, the senior vice president now owns 57,603 shares in the company, valued at approximately $2,028,201.63. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

About Exact Sciences Corporation

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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Institutional Ownership by Quarter for Exact Sciences Corporation (NASDAQ:EXAS)

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