First Mercantile Trust Co. Maintains Position in Exact Sciences Corp. (EXAS)
First Mercantile Trust Co. held its stake in Exact Sciences Corp. (NASDAQ:EXAS) during the second quarter, Holdings Channel reports. The firm owned 55,400 shares of the company’s stock at the end of the second quarter. First Mercantile Trust Co. owned approximately 0.06% of Exact Sciences Corp. worth $679,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. William Blair Investment Management LLC increased its stake in Exact Sciences Corp. by 1,945.5% in the second quarter. William Blair Investment Management LLC now owns 5,050,263 shares of the company’s stock worth $61,866,000 after buying an additional 4,803,363 shares during the period. Primecap Management Co. CA increased its stake in Exact Sciences Corp. by 45.9% in the first quarter. Primecap Management Co. CA now owns 4,516,300 shares of the company’s stock worth $30,440,000 after buying an additional 1,420,000 shares during the period. Norges Bank acquired a new stake in Exact Sciences Corp. during the fourth quarter worth $8,905,000. Kornitzer Capital Management Inc. KS acquired a new stake in Exact Sciences Corp. during the second quarter worth $9,824,000. Finally, UBS Asset Management Americas Inc. increased its stake in Exact Sciences Corp. by 65.1% in the second quarter. UBS Asset Management Americas Inc. now owns 1,958,953 shares of the company’s stock worth $23,997,000 after buying an additional 772,434 shares during the period. 86.91% of the stock is owned by institutional investors and hedge funds.
Shares of Exact Sciences Corp. (NASDAQ:EXAS) opened at 21.46 on Thursday. The stock has a 50 day moving average of $19.64 and a 200-day moving average of $11.42. Exact Sciences Corp. has a 12 month low of $4.67 and a 12 month high of $22.80. The company’s market cap is $2.11 billion.
Exact Sciences Corp. (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, July 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.09. Exact Sciences Corp. had a negative net margin of 277.74% and a negative return on equity of 57.16%. The firm earned $21.20 million during the quarter, compared to analyst estimates of $18.54 million. During the same quarter last year, the business earned ($0.44) EPS. The company’s revenue was up 161.7% compared to the same quarter last year. On average, analysts forecast that Exact Sciences Corp. will post ($1.79) EPS for the current year.
EXAS has been the subject of a number of recent research reports. Goldman Sachs Group Inc. boosted their price target on shares of Exact Sciences Corp. from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, August 15th. William Blair restated an “outperform” rating and set a $29.00 price objective on shares of Exact Sciences Corp. in a report on Friday, July 15th. Roth Capital restated a “hold” rating and set a $15.00 price objective (up previously from $11.00) on shares of Exact Sciences Corp. in a report on Monday, August 1st. Craig Hallum upgraded shares of Exact Sciences Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $18.00 in a report on Thursday, June 16th. Finally, Robert W. Baird restated an “outperform” rating and set a $18.00 price objective on shares of Exact Sciences Corp. in a report on Sunday, July 31st. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Exact Sciences Corp. presently has a consensus rating of “Buy” and an average price target of $16.32.
In related news, Director Lionel Sterling acquired 5,000 shares of Exact Sciences Corp. stock in a transaction dated Thursday, September 1st. The stock was bought at an average price of $18.10 per share, with a total value of $90,500.00. Following the transaction, the director now directly owns 121,247 shares in the company, valued at approximately $2,194,570.70. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Maneesh Arora sold 7,359 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $14.82, for a total transaction of $109,060.38. Following the sale, the chief operating officer now directly owns 538,736 shares of the company’s stock, valued at approximately $7,984,067.52. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.
About Exact Sciences Corp.
Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline.
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