UBS Asset Management Americas Inc. Boosts Position in EXACT Sciences Co. (NASDAQ:EXAS)
UBS Asset Management Americas Inc. boosted its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 13.0% during the fourth quarter, Holdings Channel reports. The firm owned 603,596 shares of the medical research company’s stock after buying an additional 69,268 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in EXACT Sciences were worth $55,821,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of EXAS. Artisan Partners Limited Partnership boosted its position in shares of EXACT Sciences by 20.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,714 shares of the medical research company’s stock worth $202,690,000 after buying an additional 375,796 shares during the period. Marshall Wace North America L.P. bought a new position in shares of EXACT Sciences in the 4th quarter worth $33,163,000. Factory Mutual Insurance Co. bought a new position in shares of EXACT Sciences in the 4th quarter worth $27,181,000. D1 Capital Partners L.P. bought a new position in shares of EXACT Sciences in the 4th quarter worth $25,432,000. Finally, Jennison Associates LLC increased its holdings in shares of EXACT Sciences by 3.7% in the 4th quarter. Jennison Associates LLC now owns 5,626,999 shares of the medical research company’s stock worth $520,385,000 after buying an additional 202,478 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.
In other EXACT Sciences news, insider Jacob A. Orville sold 1,153 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $100.68, for a total transaction of $116,084.04. Following the transaction, the insider now directly owns 3,648 shares in the company, valued at $367,280.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider G Bradley Cole sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $90.30, for a total value of $903,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,731 shares of company stock worth $4,462,531. 2.20% of the stock is owned by insiders.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.91. EXACT Sciences had a negative return on equity of 18.78% and a negative net margin of 9.59%. The firm had revenue of $295.58 million for the quarter, compared to analysts’ expectations of $294.39 million. Research analysts expect that EXACT Sciences Co. will post -1.89 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the stock. ValuEngine upgraded shares of EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Dougherty & Co began coverage on EXACT Sciences in a research note on Friday, December 13th. They set a “buy” rating and a $120.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 target price on shares of EXACT Sciences in a research note on Wednesday, February 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 target price on shares of EXACT Sciences in a research note on Friday, February 14th. Finally, Citigroup initiated coverage on EXACT Sciences in a report on Monday, January 6th. They issued a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.43.
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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