Beech Hill Advisors Inc. Sells 11,383 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Beech Hill Advisors Inc. lessened its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,435 shares of the medical research company's stock after selling 11,383 shares during the period. Beech Hill Advisors Inc.'s holdings in Exact Sciences were worth $2,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WCM Investment Management LLC increased its stake in shares of Exact Sciences by 1,153.2% during the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company's stock valued at $12,388,000 after buying an additional 172,821 shares during the period. Simplify Asset Management Inc. increased its position in Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company's stock valued at $1,994,000 after purchasing an additional 11,800 shares during the period. Zacks Investment Management bought a new position in Exact Sciences in the 3rd quarter worth $2,083,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company's stock worth $22,868,000 after purchasing an additional 125,192 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of Exact Sciences by 239.8% during the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company's stock valued at $3,320,000 after purchasing an additional 55,459 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

EXAS has been the subject of a number of research reports. TD Cowen increased their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Benchmark reissued a "buy" rating and issued a $65.00 target price on shares of Exact Sciences in a research report on Monday. Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Monday. Finally, Sanford C. Bernstein raised their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.94.

Insiders Place Their Bets

In related news, CEO Kevin T. Conroy bought 19,500 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares in the company, 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. 1.36% of the stock is owned by insiders.

Exact Sciences Stock Down 5.8 %

Shares of NASDAQ:EXAS traded down $3.08 during trading on Thursday, reaching $50.44. 6,051,194 shares of the stock traded hands, compared to its average volume of 2,776,990. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a market cap of $9.34 billion, a P/E ratio of -43.11 and a beta of 1.24. The stock has a 50-day moving average of $57.20 and a two-hundred day moving average of $59.03. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Exact Sciences Co. will post -1.1 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.