Exact Sciences Co. (NASDAQ:EXAS) Stock Holdings Raised by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in Exact Sciences Co. (NASDAQ:EXAS) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,377 shares of the medical research company’s stock after purchasing an additional 5,134 shares during the quarter. QRG Capital Management Inc.’s holdings in Exact Sciences were worth $2,887,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Exact Sciences by 1.0% during the first 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 raised 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 valued at $899,528,000 after acquiring an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences during the 2nd quarter valued at approximately $163,896,000. Champlain Investment Partners LLC lifted its stake in Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares during the last quarter. Finally, Armistice Capital LLC boosted its holdings 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 worth $59,154,000 after purchasing an additional 669,438 shares during the period. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading 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 200-day moving average of $56.67. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $10.11 billion, a P/E ratio of -57.00 and a beta of 1.27. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

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

Insiders Place Their Bets

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Craig Hallum reduced their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler lifted their target price on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. BTIG Research dropped their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.06.

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.