Assetmark Inc. Sells 262 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Assetmark Inc. decreased its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,910 shares of the medical research company’s stock after selling 262 shares during the period. Assetmark Inc.’s holdings in Exact Sciences were worth $198,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EXAS. Itau Unibanco Holding S.A. bought a new stake in Exact Sciences in the second quarter valued at about $29,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $35,000. Vestor Capital LLC bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $46,000. V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $47,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EXAS shares. Craig Hallum cut their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Sanford C. Bernstein raised 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. The Goldman Sachs Group decreased their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group dropped their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen decreased their price objective on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities 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, the stock has an average rating of “Moderate Buy” and an average price target of $74.47.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $49.33 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The business has a 50-day moving average of $65.83 and a 200-day moving average of $56.18. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -42.16 and a beta of 1.27. 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 posted its quarterly 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 net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

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.