J.W. Cole Advisors Inc. Acquires New Holdings in Exact Sciences Co. (NASDAQ:EXAS)

J.W. Cole Advisors Inc. acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,509 shares of the medical research company’s stock, valued at approximately $512,000.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in Exact Sciences by 74.4% in the first 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 in the last quarter. William Blair Investment Management LLC acquired a new stake in Exact Sciences in the second quarter worth about $163,896,000. Champlain Investment Partners LLC boosted its holdings in Exact Sciences by 175.3% in 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 acquiring an additional 1,438,010 shares in the last quarter. Sculptor Capital LP acquired a new stake in Exact Sciences in the second quarter worth about $32,819,000. Finally, Samlyn Capital LLC acquired a new stake in Exact Sciences in the second quarter worth about $30,426,000. Institutional investors own 88.82% of the company’s stock.

Analyst Upgrades and Downgrades

EXAS has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target for the company. Evercore ISI raised their price objective on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler raised their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Stifel Nicolaus reduced their price objective 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. Finally, Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.64.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Up 1.2 %

Shares of EXAS stock opened at $70.46 on Thursday. The stock has a 50 day moving average of $66.41 and a 200 day moving average of $56.52. 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 stock has a market cap of $13.00 billion, a P/E ratio of -53.38 and a beta of 1.27. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.28. The company had revenue of $699.26 million during 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%. Exact Sciences’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned ($0.45) earnings per share. As a group, sell-side analysts expect that Exact Sciences Co. will post -0.87 EPS for the current year.

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.