Virginia Retirement Systems ET AL lessened its position in EXACT Sciences Co. (NASDAQ:EXAS) by 57.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,600 shares of the medical research company’s stock after selling 9,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in EXACT Sciences were worth $779,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in EXAS. Horseman Capital Management Ltd bought a new stake in shares of EXACT Sciences in the second quarter valued at $1,180,000. Mn Services Vermogensbeheer B.V. bought a new stake in shares of EXACT Sciences during the 2nd quarter valued at $2,550,000. Zeke Capital Advisors LLC bought a new stake in shares of EXACT Sciences during the 2nd quarter valued at $585,000. Daiwa Securities Group Inc. bought a new stake in shares of EXACT Sciences during the 2nd quarter valued at $561,000. Finally, World Asset Management Inc raised its stake in shares of EXACT Sciences by 5.0% during the 2nd quarter. World Asset Management Inc now owns 4,213 shares of the medical research company’s stock valued at $497,000 after purchasing an additional 199 shares during the period. 89.37% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Jeffrey Thomas Elliott sold 9,845 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $105.60, for a total value of $1,039,632.00. Following the completion of the transaction, the chief financial officer now directly owns 41,012 shares in the company, valued at approximately $4,330,867.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katherine S. Zanotti sold 1,744 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.93, for a total value of $205,669.92. Following the completion of the transaction, the director now owns 42,844 shares of the company’s stock, valued at $5,052,592.92. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

EXACT Sciences stock traded up $1.49 during midday trading on Tuesday, hitting $118.27. 8,414 shares of the company’s stock were exchanged, compared to its average volume of 2,127,358. EXACT Sciences Co. has a 52-week low of $47.78 and a 52-week high of $123.99. The stock’s 50-day moving average price is $116.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.69 and a current ratio of 2.79. The firm has a market capitalization of $15.12 billion, a P/E ratio of -85.90 and a beta of 1.60.

EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Monday, July 29th. The medical research company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.26. EXACT Sciences had a negative return on equity of 28.90% and a negative net margin of 35.43%. The business had revenue of $199.87 million during the quarter, compared to analysts’ expectations of $182.18 million. During the same period in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue was up 94.3% on a year-over-year basis. As a group, research analysts expect that EXACT Sciences Co. will post -1.85 earnings per share for the current year.

EXAS has been the topic of a number of analyst reports. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research note on Thursday, August 1st. BTIG Research boosted their price objective on EXACT Sciences to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Cowen boosted their price objective on EXACT Sciences from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on EXACT Sciences from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Craig Hallum boosted their price objective on EXACT Sciences from $115.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. EXACT Sciences currently has a consensus rating of “Buy” and an average target price of $118.91.

EXACT Sciences 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.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for EXACT Sciences (NASDAQ:EXAS)

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