Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,512 shares of the medical research company’s stock after selling 5,829 shares during the period. Exchange Traded Concepts LLC’s holdings in Exact Sciences were worth $852,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Exact Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares during the last quarter. Capital World Investors grew its stake in shares of Exact Sciences by 74.4% during 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 buying an additional 5,557,168 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences during the 2nd quarter worth $163,896,000. Champlain Investment Partners LLC raised its position in shares of Exact Sciences by 175.3% in the 1st 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. Finally, Armistice Capital LLC boosted its holdings in Exact Sciences by 91.6% in 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 acquiring an additional 669,438 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus dropped their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Benchmark dropped their target price on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Piper Sandler lifted their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. The Goldman Sachs Group cut their target price on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, BTIG Research reduced their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $78.38.

Exact Sciences Price Performance

EXAS stock opened at $69.23 on Friday. The stock’s 50 day moving average is $64.28 and its two-hundred day moving average is $56.75. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a market capitalization of $12.78 billion, a PE ratio of -52.45 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

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

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.36% of the company’s stock.

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.