Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Braidwell LP

Braidwell LP trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 74.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,178 shares of the medical research company's stock after selling 855,500 shares during the period. Braidwell LP owned 0.15% of Exact Sciences worth $19,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in EXAS. WCM Investment Management LLC lifted its holdings in shares of Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company's stock valued at $12,388,000 after purchasing an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. increased its position in Exact Sciences by 67.5% during the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company's stock worth $1,994,000 after buying an additional 11,800 shares during the period. Profund Advisors LLC lifted its stake in Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company's stock valued at $3,320,000 after buying an additional 55,459 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company's stock valued at $22,868,000 after acquiring an additional 125,192 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Exact Sciences during the second quarter worth approximately $163,896,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Trading Up 0.6 %

NASDAQ EXAS traded up $0.39 during mid-day trading on Friday, reaching $62.08. 1,254,807 shares of the stock were exchanged, compared to its average volume of 2,651,873. The stock has a market capitalization of $11.49 billion, a PE ratio of -53.06 and a beta of 1.27. 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 Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The business's fifty day simple moving average is $63.85 and its 200 day simple moving average is $56.02.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences's revenue was up 12.8% compared to the same quarter last year. On average, research analysts anticipate that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was 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. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the topic of a number of recent research reports. Raymond James restated a "market perform" rating on shares of Exact Sciences in a research note on Thursday, September 26th. Jefferies Financial Group boosted their price target on Exact Sciences from $84.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Piper Sandler dropped their target price on Exact Sciences from $85.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Finally, The Goldman Sachs Group decreased their price target on Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. One 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 company has a consensus rating of "Moderate Buy" and an average price target of $75.29.

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.