Antipodean Advisors LLC Buys 101,000 Shares of EXACT Sciences Co. (NASDAQ:EXAS)

Antipodean Advisors LLC increased its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 21.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 577,346 shares of the medical research company’s stock after purchasing an additional 101,000 shares during the quarter. EXACT Sciences makes up approximately 23.0% of Antipodean Advisors LLC’s holdings, making the stock its biggest holding. Antipodean Advisors LLC owned approximately 0.48% of EXACT Sciences worth $27,205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in EXACT Sciences by 8.0% in the second quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after buying an additional 700,051 shares in the last quarter. BlackRock Inc. lifted its stake in EXACT Sciences by 1.2% in the second quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after buying an additional 80,589 shares in the last quarter. Fred Alger Management Inc. acquired a new stake in shares of EXACT Sciences in the second quarter valued at approximately $84,177,000. Lord Abbett & CO. LLC raised its holdings in shares of EXACT Sciences by 59.1% in the second quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after purchasing an additional 875,527 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of EXACT Sciences by 32.7% in the second quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after purchasing an additional 571,796 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

EXACT Sciences Co. (NASDAQ EXAS) traded down $2.09 during mid-day trading on Friday, hitting $52.54. 1,362,249 shares of the stock were exchanged, compared to its average volume of 1,532,317. EXACT Sciences Co. has a 52-week low of $13.05 and a 52-week 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. The company has a market capitalization of $6,540.87, a PE ratio of -45.29 and a beta of 0.67.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The company had revenue of $72.60 million during the quarter, compared to the consensus estimate of $65.03 million. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm’s revenue was up 158.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. sell-side analysts forecast that EXACT Sciences Co. will post -1.1 EPS for the current fiscal year.

In other EXACT Sciences news, insider Kevin T. Conroy sold 123,512 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $52.58, for a total transaction of $6,494,260.96. Following the transaction, the insider now directly owns 953,564 shares in the company, valued at approximately $50,138,395.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP D Scott Coward sold 29,115 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the transaction, the senior vice president now owns 64,991 shares in the company, valued at $3,064,975.56. The disclosure for this sale can be found here. Insiders have sold a total of 718,908 shares of company stock valued at $39,448,030 in the last three months. Insiders own 4.00% of the company’s stock.

A number of analysts have recently issued reports on the stock. Robert W. Baird downgraded shares of EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a report on Monday, November 13th. Leerink Swann restated an “outperform” rating and set a $67.00 target price (up from $63.00) on shares of EXACT Sciences in a report on Monday, November 13th. Bank of America boosted their target price on shares of EXACT Sciences from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. BTIG Research downgraded shares of EXACT Sciences from a “buy” rating to a “neutral” rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $50.58.

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EXACT Sciences Company 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.

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

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