Theory Financial LLC Makes New $274,000 Investment in Exact Sciences Corporation $EXAS

Theory Financial LLC bought a new stake in Exact Sciences Corporation (NASDAQ:EXAS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,007 shares of the medical research company’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXAS. Massachusetts Financial Services Co. MA acquired a new stake in shares of Exact Sciences during the 2nd quarter worth approximately $157,805,000. Champlain Investment Partners LLC lifted its stake in Exact Sciences by 12.6% during the second quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock worth $134,435,000 after purchasing an additional 282,825 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Exact Sciences by 26.4% in the 2nd quarter. Bamco Inc. NY now owns 1,861,341 shares of the medical research company’s stock valued at $98,912,000 after purchasing an additional 388,627 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Exact Sciences by 73.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,753,283 shares of the medical research company’s stock worth $93,169,000 after buying an additional 741,517 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the transaction, the executive vice president directly owned 22,368 shares of the company’s stock, valued at $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the sale, the executive vice president owned 23,237 shares in the company, valued at $1,742,775. The trade was a 17.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXAS has been the topic of a number of recent analyst reports. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a research report on Wednesday, October 8th. Robert W. Baird set a $105.00 price objective on shares of Exact Sciences in a research note on Thursday, November 20th. Finally, Craig Hallum lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.06.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $102.43 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $102.66. The stock has a market cap of $19.54 billion, a price-to-earnings ratio of -19.25, a P/E/G ratio of 2.42 and a beta of 1.40. The company’s fifty day moving average is $96.52 and its 200 day moving average is $68.59.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.11. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The business had revenue of $850.74 million during the quarter, compared to analyst estimates of $810.42 million. During the same period last year, the company earned ($0.21) EPS. Exact Sciences’s revenue for the quarter was up 20.0% compared to the same quarter last year. Sell-side analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.