Kimelman & Baird LLC Invests $84,000 in Exact Sciences Co. (NASDAQ:EXAS)

Kimelman & Baird LLC purchased a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,997 shares of the medical research company’s stock, valued at approximately $84,000.

Several other institutional investors and hedge funds have also modified their holdings of EXAS. Franklin Resources Inc. lifted its holdings in Exact Sciences by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 31,496 shares of the medical research company’s stock worth $2,330,000 after purchasing an additional 872 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Exact Sciences by 306.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,631 shares of the medical research company’s stock worth $343,000 after buying an additional 3,492 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Exact Sciences by 54.1% during the 4th quarter. Stifel Financial Corp now owns 92,319 shares of the medical research company’s stock worth $6,830,000 after buying an additional 32,425 shares during the period. Allianz Asset Management GmbH grew its stake in Exact Sciences by 32.6% in the 4th quarter. Allianz Asset Management GmbH now owns 20,265 shares of the medical research company’s stock valued at $1,499,000 after buying an additional 4,986 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in Exact Sciences in the 4th quarter worth $211,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by insiders.

Exact Sciences Stock Up 3.3 %

NASDAQ:EXAS opened at $68.12 on Tuesday. The company has a market cap of $12.57 billion, a price-to-earnings ratio of -51.61 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The stock’s fifty day moving average price is $59.72 and its two-hundred day moving average price is $56.16. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Benchmark lowered their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. 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. Piper Sandler increased their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 price target on shares of Exact Sciences in a research report on Friday, September 13th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $77.77.

Exact Sciences Profile

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.