According to a recent 13G filing with the SEC, D E Shaw, founded by billionaire David E. Shaw, has slightly lowered its stake in Exact Sciences Corp (NASDAQ:EXAS), as it now holds 5.41 million common shares of the company, which account for 5% of its float. The current stake has been lowered from 5.44 million shares owned on August 15, which represented 5% of the company’s outstanding stock, as reported in the fund’s previous 13G filing on the company.
Exact Sciences is a molecular diagnostics company with a focus on the early detection and prevention of various types of cancer. Over the past 12 months, the company’s shares have increased by an eye-popping 129.09%. For the second quarter of 2016, Exact Sciences disclosed a loss per share of $0.46 and revenue of $21.19 million, both topping analysts’ estimates, which had called for a loss per share of $0.55 and revenue of $18.54 million.
The number of hedge funds long Exact Sciences (NASDAQ:EXAS) stood at 16 at the end of June among those in our database, same as a quarter earlier. Some of the bullish investors included Mark Coe’s Coe Capital Management, which held a position worth $829.17 million, Spencer M. Waxman’s Shannon River Fund Management, with a position valued at $14.09 million, Steve Cohen’s Point72 Asset Management, Charles Paquelet’s Skylands Capital, and Ken Griffin’s Citadel Investment Group.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|D. E. Shaw Co.||0||5,402,130||0||5,410,030||5,410,030||5.0%|
|David E. Shaw||0||5,402,130||0||5,410,030||5,410,030||5.0%|
Page 1 of 6 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
Exact Sciences Corporation
(Name of Issuer)
Common stock, par value $0.01
(Title of Class of Securities)
September 27, 2016
(Date of Event Which Requires Filing of
Check the following box to designate the rule pursuant to which
the Schedule is filed:
*The remainder of this cover page shall be filled out for a
reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).