Pictet Asset Management Ltd. increased its position in EXACT Sciences Co. (NASDAQ:EXAS) by 37.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,417 shares of the medical research company’s stock after buying an additional 62,114 shares during the quarter. Pictet Asset Management Ltd. owned 0.17% of EXACT Sciences worth $26,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coastal Investment Advisors Inc. boosted its holdings in EXACT Sciences by 95.5% in the second quarter. Coastal Investment Advisors Inc. now owns 391 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 191 shares in the last quarter. Mosaic Family Wealth LLC bought a new stake in EXACT Sciences in the first quarter valued at $37,000. NEXT Financial Group Inc bought a new stake in EXACT Sciences in the second quarter valued at $50,000. Manchester Capital Management LLC bought a new stake in EXACT Sciences in the first quarter valued at $39,000. Finally, Parallel Advisors LLC boosted its holdings in EXACT Sciences by 196.2% in the first quarter. Parallel Advisors LLC now owns 471 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

Shares of EXAS stock traded down $0.65 during mid-day trading on Friday, reaching $108.04. 25,677 shares of the company’s stock traded hands, compared to its average volume of 1,209,627. EXACT Sciences Co. has a 12 month low of $53.06 and a 12 month high of $123.99. The company has a market cap of $14.12 billion, a P/E ratio of -79.41 and a beta of 1.49. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $117.24 and its 200-day moving average price is $104.81.

EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, July 29th. The medical research company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.26. The firm had revenue of $199.87 million for the quarter, compared to analysts’ expectations of $182.18 million. EXACT Sciences had a negative net margin of 35.43% and a negative return on equity of 28.90%. The company’s quarterly revenue was up 94.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) EPS. Equities analysts predict that EXACT Sciences Co. will post -1.74 earnings per share for the current year.

Several analysts recently weighed in on EXAS shares. UBS Group lifted their price target on shares of EXACT Sciences from $120.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BidaskClub cut shares of EXACT Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. William Blair reiterated a “buy” rating on shares of EXACT Sciences in a report on Tuesday. Zacks Investment Research upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a report on Thursday, August 1st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $135.00 price target on shares of EXACT Sciences in a report on Tuesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. EXACT Sciences currently has a consensus rating of “Buy” and an average target price of $126.22.

In other news, CFO Jeffrey Thomas Elliott sold 9,845 shares of EXACT Sciences stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $105.60, for a total value of $1,039,632.00. Following the completion of the transaction, the chief financial officer now owns 41,012 shares of the company’s stock, valued at approximately $4,330,867.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Katherine S. Zanotti sold 1,744 shares of EXACT Sciences stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.93, for a total value of $205,669.92. Following the completion of the transaction, the director now directly owns 42,844 shares of the company’s stock, valued at approximately $5,052,592.92. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

EXACT Sciences Company Profile

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.

Further Reading: Return on Investment (ROI)

Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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