EXACT Sciences Co. (NASDAQ:EXAS) Short Interest Update

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EXACT Sciences Co. (NASDAQ:EXAS) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 14,380,000 shares, a growth of 11.5% from the December 15th total of 12,900,000 shares. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is currently 6.9 days. Approximately 11.2% of the company’s stock are short sold.

A number of equities research analysts recently commented on EXAS shares. Citigroup assumed coverage on EXACT Sciences in a report on Monday, January 6th. They set a “buy” rating and a $120.00 target price for the company. Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research note on Thursday, October 17th. Jefferies Financial Group reduced their target price on shares of EXACT Sciences from $138.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity decreased their price target on shares of EXACT Sciences from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Bank of America reaffirmed a “buy” rating and set a $135.00 price target on shares of EXACT Sciences in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. EXACT Sciences currently has an average rating of “Buy” and a consensus price target of $122.06.

In other news, insider G Bradley Cole sold 28,016 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $80.38, for a total transaction of $2,251,926.08. Following the transaction, the insider now owns 30,987 shares in the company, valued at $2,490,735.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EXAS. NumerixS Investment Technologies Inc bought a new stake in shares of EXACT Sciences during the second quarter worth about $35,000. Harvest Fund Management Co. Ltd purchased a new position in shares of EXACT Sciences in the second quarter worth about $43,000. HM Payson & Co. acquired a new position in EXACT Sciences during the second quarter worth about $59,000. Shine Investment Advisory Services Inc. boosted its position in EXACT Sciences by 31.8% during the third quarter. Shine Investment Advisory Services Inc. now owns 518 shares of the medical research company’s stock worth $47,000 after acquiring an additional 125 shares during the last quarter. Finally, Strategic Blueprint LLC acquired a new position in EXACT Sciences during the third quarter worth about $50,000. 86.59% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:EXAS traded up $1.29 during trading hours on Thursday, hitting $90.98. The stock had a trading volume of 89,282 shares, compared to its average volume of 2,000,074. The company has a market cap of $12.07 billion, a PE ratio of -66.87 and a beta of 1.35. The business has a 50 day simple moving average of $91.53 and a two-hundred day simple moving average of $101.10. EXACT Sciences has a 1-year low of $73.63 and a 1-year high of $123.99. The company has a current ratio of 2.75, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.10. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The firm had revenue of $218.81 million for the quarter, compared to the consensus estimate of $216.14 million. During the same period last year, the firm posted ($0.37) EPS. EXACT Sciences’s quarterly revenue was up 85.0% compared to the same quarter last year. Research analysts expect that EXACT Sciences will post -1.63 EPS for the current fiscal year.

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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