Exact Sciences Co. (NASDAQ:EXAS) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its stake in Exact Sciences Co. (NASDAQ:EXAS) by 250.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,109 shares of the medical research company’s stock after acquiring an additional 18,662 shares during the period. XTX Topco Ltd’s holdings in Exact Sciences were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in EXAS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of 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 purchasing an additional 12,349 shares during the period. Thompson Investment Management Inc. boosted its holdings in shares of Exact Sciences by 13.1% in the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after acquiring an additional 18,595 shares during the period. Vanguard Group Inc. grew its position in shares of Exact Sciences by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after acquiring an additional 115,058 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Exact Sciences by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 1,020 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised 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 purchasing an additional 10,356 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $70.09 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company has a market cap of $12.93 billion, a P/E ratio of -53.10 and a beta of 1.26. The business has a fifty day moving average of $57.32 and a two-hundred day moving average of $55.84.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. As a group, 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 the firm’s stock in a transaction that occurred on Wednesday, September 18th. 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 13,687 shares of the company’s stock, valued at approximately $958,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

EXAS has been the topic of several research reports. Benchmark lowered their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Jefferies Financial Group initiated coverage on Exact Sciences in a research report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price target on the stock. Piper Sandler increased their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. The Goldman Sachs Group dropped their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $75.00 price target on shares of Exact Sciences in a research note on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.14.

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.