What Do Hedge Funds Think of EXACT Sciences Corporation (EXAS)?

At the top of the heap, Hal Mintz’s Sabby Capital dropped the biggest investment of all the hedgies monitored by Insider Monkey, totaling close to $8.9 million in stock. Andrew Sandler’s fund, Sandler Capital Management, also cut its stock, about $1.8 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as EXACT Sciences Corporation (NASDAQ:EXAS) but similarly valued. These stocks are DeVry Inc. (NYSE:DV), Worthington Industries, Inc. (NYSE:WOR), South Jersey Industries Inc (NYSE:SJI), and First Busey Corporation (NASDAQ:BUSE). This group of stocks’ market valuations are similar to EXAS’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $169 million. That figure was $160 million in EXAS’s case. DeVry Inc. (NYSE:DV) is the most popular stock in this table. On the other hand First Busey Corporation (NASDAQ:BUSE) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks EXACT Sciences Corporation (NASDAQ:EXAS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.