Samlyn Capital LLC Buys New Position in Exact Sciences Co. (NASDAQ:EXAS)

Samlyn Capital LLC bought a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 720,147 shares of the medical research company’s stock, valued at approximately $30,426,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences during the 2nd quarter valued at about $29,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after buying an additional 179 shares during the period. Able Wealth Management LLC acquired a new position in shares of Exact Sciences in the fourth quarter worth about $45,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of Exact Sciences in the first quarter worth about $55,000. Institutional investors own 88.82% of the company’s stock.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction 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 in the company, valued at $958,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by insiders.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $69.64 on Tuesday. The firm has a fifty day moving average price of $57.78 and a two-hundred day moving average price of $55.89. The company has a market cap of $12.85 billion, a PE ratio of -52.76 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business earned ($0.45) earnings per share. Analysts expect that Exact Sciences Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EXAS. Evercore ISI reduced their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Scotiabank initiated coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective on the stock. Benchmark cut 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. The Goldman Sachs Group cut their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Exact Sciences in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $78.14.

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.