Commerce Bank Purchases 1,075 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Commerce Bank raised its position in Exact Sciences Co. (NASDAQ:EXAS) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,678 shares of the medical research company’s stock after purchasing an additional 1,075 shares during the period. Commerce Bank’s holdings in Exact Sciences were worth $1,000,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Exact Sciences in the 3rd quarter valued at $2,193,000. Swiss National Bank raised its position in shares of Exact Sciences by 2.4% during the 3rd quarter. Swiss National Bank now owns 547,680 shares of the medical research company’s stock valued at $37,308,000 after buying an additional 12,600 shares in the last quarter. Simplify Asset Management Inc. raised its position in shares of Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after buying an additional 11,800 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at $225,000. Finally, CIBC Asset Management Inc raised its position in shares of Exact Sciences by 6.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock valued at $442,000 after buying an additional 371 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Trading Down 0.3 %

NASDAQ:EXAS opened at $52.91 on Monday. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The company’s 50-day simple moving average is $64.79 and its 200 day simple moving average is $55.84. The firm has a market capitalization of $9.79 billion, a P/E ratio of -45.22 and a beta of 1.27.

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

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Wednesday, September 18th. The shares were 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 13,687 shares of the company’s stock, valued at approximately $958,090. The trade was a 6.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin T. Conroy bought 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EXAS shares. Benchmark lowered their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Citigroup decreased their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Robert W. Baird decreased their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.47.

About Exact Sciences

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.