Quantinno Capital Management LP Buys New Position in Exact Sciences Co. (NASDAQ:EXAS)

Quantinno Capital Management LP purchased a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,271 shares of the medical research company’s stock, valued at approximately $223,000.

Several other large investors have also bought and sold shares of EXAS. Chicago Partners Investment Group LLC raised its holdings in shares of Exact Sciences by 1.7% in the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after purchasing an additional 158 shares during the last quarter. Amalgamated Bank lifted its position in shares of Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after buying an additional 284 shares in the last quarter. Huntington National Bank boosted its stake in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Exact Sciences by 6.2% in the second quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock valued at $258,000 after acquiring an additional 356 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Exact Sciences by 1.4% during the third quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after acquiring an additional 402 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective for the company. Citigroup reduced their price target on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered their price objective on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday. Craig Hallum dropped 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 note on Wednesday, November 6th. Finally, Benchmark decreased their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Trading Down 0.8 %

Shares of EXAS opened at $60.75 on Tuesday. The business’s 50-day moving average price is $62.56 and its 200-day moving average price is $56.98. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The stock has a market cap of $11.24 billion, a PE ratio of -51.92 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were 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 approximately $958,090. This trade represents a 6.36 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

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.