Exact Sciences Corp (EXAS): Billionaire David E. Shaw’s D E Shaw Ups Its Stake

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Billionaire David E. Shaw‘s D. E. Shaw & Co. recently filed a Form 13G with the US Securities and Exchange Commission, in which it reported holding 5.44 million shares of Exact Sciences Corp (NASDAQ:EXAS), which amass 5.0% of the company’s outstanding stock. This represents an increase in the stake without a change in the percentage of ownership as the fund previously held 4.93 million shares, which also amassed 5.0% of the outstanding stock, according to its last 13G filing.

Exact Sciences is a molecular diagnostics company engaged in the early discovery and prevention of colorectal cancer. Year-to-date, the company’s stock is up by 106.39%. For the second quarter of 2016, Exact Sciences reported a revenue of $21.2 million, and a loss per share of $0.46, compared to a revenue of $8.1 million, and a loss per share of $0.44 in the same period a year earlier. Recently, Goldman Sachs Group Inc. boosted its price target to $18 from $16, with a ‘Neutral’ rating on Exact Sciences’ stock, Roth Capital reiterated its ‘Hold’ rating on it, and increased its price target to $15 from $11, Robert W Baird reiterated its ‘Outperform’ rating with a price target of $18, and BTIG Research reiterated its ‘Buy’ rating on the stock, with a price target of $20.


D. E. Shaw

The number of smart money investors long  Exact Sciences Corp (NASDAQ:EXAS) from our database hasn’t changed recently, hence there were still 16 hedge funds with positions in this company at the end the second quarter. Among them were Mark Coe’s Coe Capital Management, with a position worth around $829.17 million, Spencer M. Waxman’s Shannon River Fund Management, which held a position valued at $14.09 million, Charles Paquelet’s Skylands Capital, and Ken Griffin’s Citadel Investment Group.

Among investors who sold off its positions in Exact Sciences Corp (NASDAQ:EXAS) during the second quarter, were Jim Simons’ Renaissance Technologies, which dumped a position valued at the end of March at $1.42 million, Patrick Hughes And Loren Katzovitz’ Deimos Asset Management, which said goodbye to $337,000 worth a position,  Mike Vranos’ Ellington, and Eli Casdin’s Casdin Capital.

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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 5,437,812 0 5,440,212 5,440,212 5.0%
David E. Shaw 0 5,437,812 0 5,440,212 5,440,212 5.0%

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Page 1 of 6 – SEC Filing



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)




(CUSIP Number)



August 15, 2016

(Date of Event Which Requires Filing of
this Statement)

Check the following box to designate the rule pursuant to which
the Schedule is filed:

¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)

*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).

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