Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 135,865 shares of the medical research company’s stock after selling 17,484 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Exact Sciences worth $9,548,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 purchasing an additional 180,341 shares in the last quarter. Capital World Investors raised its position in Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after acquiring an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Exact Sciences in the second quarter valued at about $163,896,000. Champlain Investment Partners LLC grew its position in shares of 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 increased its stake in shares of Exact Sciences by 91.6% during the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after purchasing an additional 669,438 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on EXAS. The Goldman Sachs Group reduced their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity Group decreased their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Jefferies Financial Group increased their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Piper Sandler lifted their price target on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.06.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Down 23.5 %

Shares of NASDAQ:EXAS opened at $54.72 on Thursday. The company has a 50 day moving average of $67.27 and a two-hundred day moving average of $56.67. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of -56.71 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

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.