Allspring Global Investments Holdings LLC Sells 1,175 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Allspring Global Investments Holdings LLC lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 54.1% during the third quarter, HoldingsChannel reports. The firm owned 996 shares of the medical research company’s stock after selling 1,175 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Exact Sciences were worth $68,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Exact Sciences by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after buying an additional 180,341 shares in the last quarter. Capital World Investors lifted its position in shares of Exact Sciences by 74.4% during the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after buying an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences during the 2nd quarter worth $163,896,000. Champlain Investment Partners LLC raised its position in Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after purchasing an additional 1,438,010 shares during the last quarter. Finally, Armistice Capital LLC raised its position in Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Insider Activity

In other 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 transaction of $65,030.00. Following the transaction, the executive vice president now owns 13,687 shares of the company’s stock, valued at $958,090. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Exact Sciences Stock Up 1.9 %

EXAS stock opened at $71.13 on Tuesday. The stock’s fifty day simple moving average is $66.81 and its two-hundred day simple moving average is $56.54. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The stock has a market cap of $13.14 billion, a P/E ratio of -74.09 and a beta of 1.27.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein lifted their price objective on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Benchmark dropped their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler boosted their price objective on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.64.

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.