Amalgamated Bank Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Amalgamated Bank reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,634 shares of the medical research company’s stock after selling 303 shares during the period. Amalgamated Bank’s holdings in Exact Sciences were worth $724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after acquiring an additional 12,349 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after acquiring an additional 10,356 shares in the last quarter. Profund Advisors LLC grew its position in Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after acquiring an additional 55,459 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Exact Sciences during the second quarter worth about $163,896,000. Finally, Swedbank AB acquired a new position in shares of Exact Sciences during the first quarter worth about $2,719,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Down 3.1 %

Shares of EXAS stock opened at $49.33 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $9.13 billion, a P/E ratio of -42.16 and a beta of 1.27. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm’s fifty day moving average price is $65.83 and its two-hundred day moving average price is $56.20.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXAS. Canaccord Genuity Group lowered their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Benchmark dropped their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Citigroup lowered their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, TD Cowen reduced their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.47.

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.