RiverPark Advisors LLC reduced its position in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 33.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,055 shares of the medical research company’s stock after selling 12,957 shares during the period. RiverPark Advisors LLC’s holdings in EXACT Sciences were worth $2,257,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank raised its stake in EXACT Sciences by 160.0% during the 1st quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Buffington Mohr McNeal acquired a new stake in EXACT Sciences during the 1st quarter worth $30,000. Karp Capital Management Corp acquired a new stake in EXACT Sciences during the 4th quarter worth $38,000. Shine Investment Advisory Services Inc. raised its stake in EXACT Sciences by 130.2% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 442 shares of the medical research company’s stock worth $38,000 after acquiring an additional 250 shares in the last quarter. Finally, CWM LLC raised its stake in EXACT Sciences by 777.1% during the 4th quarter. CWM LLC now owns 614 shares of the medical research company’s stock worth $39,000 after acquiring an additional 544 shares in the last quarter. 86.35% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on EXAS shares. UBS Group lifted their price target on shares of EXACT Sciences from $100.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, January 28th. Craig Hallum reiterated a “buy” rating and set a $115.00 price target (up from $95.00) on shares of EXACT Sciences in a research note on Wednesday, May 1st. BidaskClub lowered shares of EXACT Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 15th. Goldman Sachs Group upgraded shares of EXACT Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $120.00 in a research note on Tuesday, February 26th. Finally, Robert W. Baird lifted their price target on shares of EXACT Sciences from $90.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, February 21st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. EXACT Sciences currently has a consensus rating of “Buy” and an average target price of $108.45.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.01). The business had revenue of $162.00 million during the quarter, compared to analyst estimates of $153.07 million. EXACT Sciences had a negative net margin of 41.58% and a negative return on equity of 28.83%. The company’s revenue for the quarter was up 79.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. Research analysts predict that EXACT Sciences Co. will post -2.13 earnings per share for the current year.
In other news, insider Kevin T. Conroy sold 9,169 shares of EXACT Sciences stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $95.07, for a total value of $871,696.83. Following the sale, the insider now owns 923,961 shares of the company’s stock, valued at $87,840,972.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott C. Johnson sold 1,166 shares of EXACT Sciences stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $93.20, for a total transaction of $108,671.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,201 shares of company stock worth $5,543,493. 3.20% of the stock is currently owned by company insiders.
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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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