13,300 Shares in Exact Sciences Co. (NASDAQ:EXAS) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,300 shares of the medical research company’s stock, valued at approximately $562,000.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its holdings 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 worth $899,528,000 after acquiring an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Exact Sciences during the second quarter worth $163,896,000. Champlain Investment Partners LLC boosted its position in shares of 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 worth $155,954,000 after buying an additional 1,438,010 shares during the period. Samlyn Capital LLC acquired a new stake in shares of Exact Sciences in the second quarter valued at $30,426,000. Finally, Iron Triangle Partners LP purchased a new stake in shares of Exact Sciences in the 1st quarter valued at $48,342,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXAS shares. Piper Sandler raised their target price on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a report on Friday, September 13th. Stifel Nicolaus reduced their target price on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company began coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target for the company. Finally, BTIG Research reduced their price objective on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Exact Sciences Price Performance

EXAS stock opened at $68.04 on Wednesday. The business has a 50 day moving average price of $60.09 and a 200 day moving average price of $56.23. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of -51.55 and a beta of 1.26. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its 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. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. During the same quarter in the prior year, the business posted ($0.45) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences 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 sale, the executive vice president now owns 13,687 shares in the company, valued at $958,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is currently owned by insiders.

Exact Sciences Company 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.