Sheaff Brock Investment Advisors LLC Reduces Holdings in EXACT Sciences Co. (EXAS)
Sheaff Brock Investment Advisors LLC cut its position in EXACT Sciences Co. (NASDAQ:EXAS) by 19.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,700 shares of the medical research company’s stock after selling 2,100 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in EXACT Sciences were worth $410,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Fortaleza Asset Management Inc. bought a new position in EXACT Sciences in the second quarter valued at about $106,000. Krilogy Financial LLC raised its position in shares of EXACT Sciences by 1,460.0% during the second quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after acquiring an additional 3,650 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of EXACT Sciences by 17.3% during 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 during the last quarter. Johnson Financial Group Inc. raised its position in shares of EXACT Sciences by 25.9% during 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of EXACT Sciences by 66.2% during 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 during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.
Shares of EXACT Sciences Co. (NASDAQ EXAS) opened at $53.50 on Wednesday. EXACT Sciences Co. has a one year low of $13.05 and a one year high of $63.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.34 and a quick ratio of 9.98.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The business had revenue of $72.60 million during the quarter, compared to analysts’ expectations of $65.03 million. During the same quarter last year, the firm posted ($0.36) earnings per share. The firm’s revenue was up 158.4% on a year-over-year basis. sell-side analysts anticipate that EXACT Sciences Co. will post -1.12 earnings per share for the current fiscal year.
In related news, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Graham Peter Lidgard sold 45,770 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $58.27, for a total value of $2,667,017.90. Following the completion of the sale, the insider now directly owns 237,820 shares of the company’s stock, valued at approximately $13,857,771.40. The disclosure for this sale can be found here. Insiders have sold 473,547 shares of company stock valued at $26,440,940 in the last ninety days. 4.00% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on EXAS. BidaskClub downgraded EXACT Sciences from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Benchmark restated a “buy” rating and set a $60.00 price objective (up from $50.00) on shares of EXACT Sciences in a research report on Tuesday, October 31st. Leerink Swann restated an “outperform” rating and set a $50.00 price objective (up from $45.00) on shares of EXACT Sciences in a research report on Thursday, September 21st. Bank of America raised their price objective on EXACT Sciences from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, September 26th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. EXACT Sciences presently has a consensus rating of “Buy” and a consensus target price of $50.58.
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EXACT Sciences 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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