Point72 Asset Management L.P. Purchases 105,850 Shares of EXACT Sciences Co. (NASDAQ:EXAS)
Point72 Asset Management L.P. lifted its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 2,096.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,898 shares of the medical research company’s stock after purchasing an additional 105,850 shares during the period. Point72 Asset Management L.P. owned about 0.09% of EXACT Sciences worth $13,090,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in shares of EXACT Sciences by 216.9% in the 2nd quarter. Jennison Associates LLC now owns 3,303,930 shares of the medical research company’s stock valued at $389,996,000 after purchasing an additional 2,261,394 shares during the period. First Trust Advisors LP increased its holdings in shares of EXACT Sciences by 221.1% in the 2nd quarter. First Trust Advisors LP now owns 1,535,780 shares of the medical research company’s stock worth $181,283,000 after purchasing an additional 1,057,434 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of EXACT Sciences in the 2nd quarter worth $61,160,000. Vanguard Group Inc. increased its holdings in shares of EXACT Sciences by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,521,644 shares of the medical research company’s stock worth $1,360,016,000 after purchasing an additional 309,043 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of EXACT Sciences by 4,595.5% in the second quarter. Westfield Capital Management Co. LP now owns 281,730 shares of the medical research company’s stock worth $33,255,000 after acquiring an additional 275,730 shares during the period. Institutional investors own 87.63% of the company’s stock.
EXAS stock traded up $1.33 during midday trading on Monday, reaching $105.30. 2,105,922 shares of the company traded hands, compared to its average volume of 1,411,710. EXACT Sciences Co. has a 52-week low of $53.06 and a 52-week high of $123.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.69 and a current ratio of 2.79. The business has a 50 day moving average of $115.58 and a 200-day moving average of $105.34. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of -77.43 and a beta of 1.49.
Several analysts recently commented on EXAS shares. Benchmark raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Monday. Cowen boosted their target price on EXACT Sciences from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research report on Thursday, August 1st. William Blair restated a “buy” rating on shares of EXACT Sciences in a research report on Tuesday, September 10th. Finally, BidaskClub downgraded EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $126.60.
In other EXACT Sciences news, Director Katherine S. Zanotti sold 1,744 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.93, for a total transaction of $205,669.92. Following the completion of the sale, the director now owns 42,844 shares in the company, valued at $5,052,592.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jeffrey Thomas Elliott sold 9,845 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 41,012 shares of the company’s stock, valued at approximately $4,330,867.20. The disclosure for this sale can be found here. In the last three months, insiders sold 15,116 shares of company stock worth $1,628,440. 2.20% of the stock is owned by insiders.
EXACT Sciences 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.
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