Exact Sciences Co. (NASDAQ:EXAS) Stock Position Decreased by Capital Impact Advisors LLC

Capital Impact Advisors LLC trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 40.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,572 shares of the medical research company’s stock after selling 8,707 shares during the quarter. Capital Impact Advisors LLC’s holdings in Exact Sciences were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Exact Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after buying an additional 180,341 shares in the last quarter. Capital World Investors raised its stake in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after acquiring an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Exact Sciences in the 2nd quarter worth approximately $163,896,000. Champlain Investment Partners LLC grew its holdings in Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after purchasing an additional 1,438,010 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of EXAS stock opened at $65.96 on Monday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $59.32 and its 200-day moving average is $56.09. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of -49.97 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. The firm had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) EPS. Sell-side analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

EXAS has been the subject of several recent analyst reports. Benchmark decreased their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Evercore ISI decreased their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group decreased their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 target price for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Exact Sciences in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.77.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at approximately $958,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by company insiders.

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.