Elk Creek Partners adds EXACT Sciences Corporation (EXAS) to its portfolio

EXACT Sciences Corporation (EXAS) : Elk Creek Partners added new position in EXACT Sciences Corporation during the most recent quarter end. The investment management firm now holds 1,174,659 shares of EXACT Sciences Corporation which is valued at $24,891,024 , the company said in a statement filed on Aug 12, 2016 with the SEC.EXACT Sciences Corporation makes up approximately 1.61% of Elk Creek Partners’s portfolio.

Other Hedge Funds, Including , Lord Abbett added EXAS to its portfolio by purchasing 354,382 company shares during the most recent quarter which is valued at $7,509,355. EXACT Sciences Corporation makes up approx 0.02% of Lord Abbett’s portfolio. Canada Pension Plan Investment Board sold out all of its stake in EXAS during the most recent quarter. The investment firm sold 8,400 shares of EXAS which is valued $177,996.Keybank National Associationoh boosted its stake in EXAS in the latest quarter, The investment management firm added 3,904 additional shares and now holds a total of 34,844 shares of EXACT Sciences Corporation which is valued at $738,344.Commonwealth Equity Services Inc reduced its stake in EXAS by selling 1,103 shares or 5.66% in the most recent quarter. The Hedge Fund company now holds 18,377 shares of EXAS which is valued at $353,757.

EXACT Sciences Corporation opened for trading at $19.23 and hit $19.78 on the upside on Monday, eventually ending the session at $19.5, with a gain of 1.62% or 0.31 points. The heightened volatility saw the trading volume jump to 15,67,578 shares. Company has a market cap of $2,108 M.

On the company’s financial health, EXACT Sciences Corporation reported $-0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $-0.55. The company had revenue of $21.20 million for the quarter, compared to analysts expectations of $18.50 million. The company’s revenue was up 161.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.44 EPS.

Many Wall Street Analysts have commented on EXACT Sciences Corporation. Company shares were Reiterated by Craig Hallum on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $18 .Company shares were Reiterated by Jefferies on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $13 .Company shares were Reiterated by The Benchmark Company on Jul 27, 2016 to “Hold”, Firm has raised the Price Target to $ 14 from a previous price target of $9 .

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer. The Company has developed a non?invasive screening test called Cologuard for colorectal cancer. Its Cologuard test is a non?invasive stool?based deoxyribonucleic acid (DNA) (sDNA) screening test designed to detect DNA markers. In addition to DNA markers its test includes a protein marker to detect blood in the stool utilizing an antibody?based fecal immunochemical test (FIT). The Company’s Cologuard test is designed to detect pre?cancerous lesions or polyps and each of the four stages of colorectal cancer. By detecting pre?cancers and cancers early with its test affected patients can be referred to colonoscopy during which the polyps or lesions can be removed. The company’s test also detects blood in stool utilizing an antibody based FIT test.

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