Gilder Gagnon Howe & Co. LLC cut its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,405,026 shares of the medical research company’s stock after selling 157,010 shares during the quarter. EXACT Sciences makes up approximately 1.0% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 28th largest position. Gilder Gagnon Howe & Co. LLC owned approximately 0.94% of EXACT Sciences worth $122,153,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Ensign Peak Advisors Inc lifted its holdings in EXACT Sciences by 35.6% in the first quarter. Ensign Peak Advisors Inc now owns 3,047,979 shares of the medical research company’s stock valued at $176,781,000 after acquiring an additional 800,317 shares during the period. Viking Global Investors LP lifted its holdings in EXACT Sciences by 17.4% in the first quarter. Viking Global Investors LP now owns 2,427,570 shares of the medical research company’s stock valued at $140,799,000 after acquiring an additional 360,323 shares during the period. Zevenbergen Capital Investments LLC lifted its holdings in EXACT Sciences by 15.1% in the first quarter. Zevenbergen Capital Investments LLC now owns 1,792,229 shares of the medical research company’s stock valued at $103,949,000 after acquiring an additional 235,330 shares during the period. William Blair Investment Management LLC acquired a new position in EXACT Sciences in the second quarter valued at approximately $154,686,000. Finally, Frontier Capital Management Co. LLC lifted its holdings in EXACT Sciences by 34.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,647,552 shares of the medical research company’s stock valued at $143,238,000 after acquiring an additional 421,764 shares during the period. 87.15% of the stock is owned by institutional investors.
Shares of EXAS traded down $1.70 during trading hours on Friday, hitting $74.70. 2,021,800 shares of the stock were exchanged, compared to its average volume of 1,573,681. The stock’s 50-day moving average price is $87.49 and its two-hundred day moving average price is $80.25. EXACT Sciences Co. has a 12-month low of $35.25 and a 12-month high of $123.17. The company has a quick ratio of 6.40, a current ratio of 6.77 and a debt-to-equity ratio of 0.67.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, July 30th. The medical research company reported ($0.58) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04. The company had revenue of $268.87 million for the quarter, compared to analysts’ expectations of $229.62 million. EXACT Sciences had a negative return on equity of 13.32% and a negative net margin of 13.65%. Equities research analysts forecast that EXACT Sciences Co. will post -1.97 earnings per share for the current fiscal year.
In related news, insider Torsten Hoof sold 7,964 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.90, for a total value of $676,143.60. Following the transaction, the insider now owns 9,981 shares in the company, valued at $847,386.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kevin T. Conroy sold 25,198 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.80, for a total value of $2,363,572.40. In the last 90 days, insiders have sold 65,538 shares of company stock worth $5,721,343. 1.80% of the stock is currently owned by insiders.
A number of research firms have recently commented on EXAS. BidaskClub cut EXACT Sciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Citigroup boosted their price objective on EXACT Sciences from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Monday, July 13th. Benchmark boosted their price objective on EXACT Sciences from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Oppenheimer restated a “buy” rating on shares of EXACT Sciences in a research report on Wednesday, July 8th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $105.80.
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.
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