Driehaus Capital Management LLC cut its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 51.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,008 shares of the medical research company’s stock after selling 60,740 shares during the quarter. Driehaus Capital Management LLC’s holdings in EXACT Sciences were worth $3,048,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in EXAS. Dimensional Fund Advisors LP bought a new position in shares of EXACT Sciences during the 2nd quarter valued at approximately $3,939,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of EXACT Sciences by 97.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,535 shares of the medical research company’s stock valued at $1,816,000 after acquiring an additional 19,014 shares during the period. Chicago Equity Partners LLC bought a new position in shares of EXACT Sciences during the 3rd quarter valued at approximately $2,312,000. State of Wisconsin Investment Board grew its stake in shares of EXACT Sciences by 26.2% during the 3rd quarter. State of Wisconsin Investment Board now owns 107,253 shares of the medical research company’s stock valued at $5,054,000 after acquiring an additional 22,253 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of EXACT Sciences by 632.5% during the 3rd quarter. Prudential Financial Inc. now owns 89,069 shares of the medical research company’s stock valued at $4,197,000 after acquiring an additional 76,910 shares during the period. Institutional investors own 82.05% of the company’s stock.
A number of brokerages recently issued reports on EXAS. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, January 16th. William Blair reissued a “buy” rating on shares of EXACT Sciences in a report on Wednesday, January 10th. BidaskClub raised EXACT Sciences from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Robert W. Baird raised EXACT Sciences from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $42.56 to $56.00 in a report on Tuesday, February 27th. Finally, Goldman Sachs Group assumed coverage on EXACT Sciences in a report on Monday, January 29th. They issued a “neutral” rating and a $51.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $52.84.
Shares of EXACT Sciences Co. (NASDAQ EXAS) opened at $52.15 on Monday. EXACT Sciences Co. has a twelve month low of $19.91 and a twelve month high of $63.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.77 and a current ratio of 7.15.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, February 22nd. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. The business had revenue of $87.41 million for the quarter, compared to analysts’ expectations of $87.42 million. EXACT Sciences had a negative return on equity of 24.13% and a negative net margin of 43.01%. The company’s revenue for the quarter was up 148.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. research analysts anticipate that EXACT Sciences Co. will post -0.84 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This article was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://sportsperspectives.com/2018/03/12/driehaus-capital-management-llc-sells-60740-shares-of-exact-sciences-co-exas.html.
EXACT Sciences Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
Want to see what other hedge funds are holding EXAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EXACT Sciences Co. (NASDAQ:EXAS).
Receive News & Ratings for EXACT Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences and related companies with MarketBeat.com's FREE daily email newsletter.