United Capital Financial Advisers LLC increased its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,674 shares of the medical research company’s stock after purchasing an additional 1,011 shares during the quarter. United Capital Financial Advisers LLC’s holdings in EXACT Sciences were worth $2,086,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in EXAS. Mosaic Family Wealth LLC purchased a new position in EXACT Sciences during the 1st quarter valued at $37,000. Manchester Capital Management LLC acquired a new stake in EXACT Sciences in the first quarter worth about $39,000. 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 worth $47,000 after acquiring an additional 191 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in EXACT Sciences in the second quarter worth about $50,000. Finally, Ropes Wealth Advisors LLC acquired a new stake in EXACT Sciences in the second quarter worth about $71,000. Institutional investors and hedge funds own 87.63% of the company’s stock.
Shares of EXAS traded down $0.80 during mid-day trading on Thursday, reaching $104.64. The company’s stock had a trading volume of 342,131 shares, compared to its average volume of 1,288,147. EXACT Sciences Co. has a 12-month low of $53.06 and a 12-month high of $123.99. The stock has a market cap of $13.52 billion, a PE ratio of -76.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 2.69. The company’s 50 day moving average is $116.11 and its 200 day moving average is $105.22.
EXAS has been the subject of a number of research reports. Craig Hallum lifted their target price on EXACT Sciences from $115.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Cowen lifted their price target on EXACT Sciences from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. UBS Group lifted their price target on EXACT Sciences from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Canaccord Genuity reiterated a “buy” rating and set a $135.00 price target on shares of EXACT Sciences in a research report on Tuesday, September 10th. Finally, Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $126.22.
In other EXACT Sciences news, CFO Jeffrey Thomas Elliott sold 9,845 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $105.60, for a total transaction 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 $4,330,867.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott C. Johnson sold 3,527 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $108.63, for a total value of $383,138.01. Following the transaction, the senior vice president now directly owns 7,934 shares of the company’s stock, valued at approximately $861,870.42. The disclosure for this sale can be found here. Insiders sold a total of 15,116 shares of company stock valued at $1,628,440 over the last three months. Insiders own 2.20% of the company’s stock.
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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