Exact Sciences Corporation (NASDAQ:EXAS) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 24,493,802 shares, a decrease of 11.4% from the May 15th total of 27,657,749 shares. Approximately 22.5% of the shares of the stock are sold short. Based on an average daily volume of 3,154,818 shares, the days-to-cover ratio is presently 7.8 days.
In other Exact Sciences Corporation news, SVP D Scott Coward sold 1,543 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $23.74, for a total value of $36,630.82. Following the completion of the transaction, the senior vice president now directly owns 55,478 shares in the company, valued at approximately $1,317,047.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Cantab Capital Partners LLP raised its position in Exact Sciences Corporation by 5,352.2% in the fourth quarter. Cantab Capital Partners LLP now owns 7,524 shares of the medical research company’s stock worth $101,000 after buying an additional 7,386 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in Exact Sciences Corporation during the fourth quarter worth $134,000. Intellectus Partners LLC bought a new position in Exact Sciences Corporation during the fourth quarter worth $134,000. Raymond James Financial Services Advisors Inc. bought a new position in Exact Sciences Corporation during the fourth quarter worth $192,000. Finally, Botty Investors LLC bought a new position in Exact Sciences Corporation during the first quarter worth $200,000. 91.04% of the stock is currently owned by institutional investors.
Shares of Exact Sciences Corporation (NASDAQ:EXAS) opened at 32.27 on Friday. The company’s 50-day moving average price is $33.32 and its 200 day moving average price is $22.81. Exact Sciences Corporation has a 12-month low of $9.91 and a 12-month high of $38.92. The stock’s market cap is $3.59 billion.
Exact Sciences Corporation (NASDAQ:EXAS) last released its quarterly earnings data on Thursday, April 27th. The medical research company reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.09. The company had revenue of $48.36 million for the quarter, compared to analyst estimates of $37.38 million. Exact Sciences Corporation had a negative return on equity of 49.24% and a negative net margin of 116.39%. The firm’s revenue for the quarter was up 225.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.49) earnings per share. On average, equities analysts predict that Exact Sciences Corporation will post ($1.34) earnings per share for the current year.
Several research analysts have weighed in on EXAS shares. Zacks Investment Research downgraded Exact Sciences Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and issued a $27.00 price target on shares of Exact Sciences Corporation in a research note on Monday, April 24th. Benchmark Co. upgraded Exact Sciences Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $17.00 to $27.00 in a research note on Tuesday, February 21st. Vetr upgraded Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating and set a $36.39 price target for the company in a research note on Tuesday. Finally, Craig Hallum set a $28.00 price target on Exact Sciences Corporation and gave the stock a “buy” rating in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $31.96.
TRADEMARK VIOLATION WARNING: This piece was published by sleekmoney and is the sole property of of sleekmoney. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://sleekmoney.com/exact-sciences-corporation-exas-sees-significant-decline-in-short-interest/1916833.html.
About Exact Sciences Corporation
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.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/exact-sciences-corporation-exas-sees-significant-decline-in-short-interest/1916833.html
Receive News & Ratings for Exact Sciences Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exact Sciences Corporation and related companies with MarketBeat.com's FREE daily email newsletter.