Soros Capital Management LLC Acquires Shares of 51,700 Exact Sciences Co. (NASDAQ:EXAS)

Soros Capital Management LLC purchased a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 51,700 shares of the medical research company's stock, valued at approximately $3,522,000.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after purchasing an additional 352 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Exact Sciences in the third quarter valued at about $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences during the 3rd quarter worth approximately $46,000. V Square Quantitative Management LLC purchased a new stake in Exact Sciences during the 3rd quarter valued at about $47,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the second quarter worth $29,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Insider Activity at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares of the company's stock, valued at approximately $958,090. This represents a 6.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EXAS. Piper Sandler reduced their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Citigroup decreased their price target on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Evercore ISI cut their target price on Exact Sciences from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on Exact Sciences from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Craig Hallum reduced their target price on Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.29.

Exact Sciences Price Performance

Shares of EXAS stock traded up $0.85 on Wednesday, reaching $60.95. The company's stock had a trading volume of 1,444,467 shares, compared to its average volume of 2,653,196. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The stock's 50 day simple moving average is $64.35 and its 200-day simple moving average is $55.89. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a market capitalization of $11.28 billion, a P/E ratio of -51.73 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly 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 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 company's quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

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.