Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by Wasatch Advisors LP

Wasatch Advisors LP raised its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,248 shares of the medical research company’s stock after buying an additional 37,668 shares during the period. Wasatch Advisors LP owned about 0.16% of Exact Sciences worth $20,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its stake in Exact Sciences by 459.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares in the last quarter. Able Wealth Management LLC acquired a new stake in Exact Sciences in the fourth quarter valued at $45,000. Fortitude Family Office LLC acquired a new stake in Exact Sciences in the first quarter valued at $55,000. National Bank of Canada FI raised its stake in Exact Sciences by 30.9% in the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock valued at $63,000 after buying an additional 200 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Exact Sciences in the fourth quarter valued at $66,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 1,498 shares of company stock valued at $90,105. 1.36% of the stock is owned by corporate insiders.

Exact Sciences Stock Performance

Shares of EXAS opened at $43.17 on Wednesday. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $100.77. The stock’s 50 day moving average is $49.60 and its two-hundred day moving average is $59.82. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. The company had revenue of $637.52 million for the quarter, compared to analyst estimates of $624.95 million. On average, equities analysts expect that Exact Sciences Co. will post -1.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on EXAS shares. Jefferies Financial Group began coverage on Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 price target on the stock. BTIG Research dropped their price objective on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Evercore ISI dropped their price objective on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday. Scotiabank began coverage on Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective on the stock. Finally, Citigroup dropped their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.80.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.