392,139 Shares in Exact Sciences Co. (NASDAQ:EXAS) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 392,139 shares of the medical research company's stock, valued at approximately $26,546,000. Erste Asset Management GmbH owned approximately 0.21% of Exact Sciences as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EXAS. William Blair Investment Management LLC purchased a new position in shares of Exact Sciences in the second quarter valued at approximately $163,896,000. Sculptor Capital LP purchased a new position in Exact Sciences in the 2nd quarter valued at $32,819,000. Samlyn Capital LLC acquired a new stake in Exact Sciences during the 2nd quarter worth $30,426,000. Armistice Capital LLC boosted its stake in Exact Sciences by 91.6% during the 2nd 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 last quarter. Finally, Bellevue Group AG grew its holdings in shares of Exact Sciences by 25.1% during the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company's stock worth $98,738,000 after buying an additional 290,585 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Wall Street Analysts Forecast Growth

EXAS has been the topic of a number of recent research reports. BTIG Research boosted their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Evercore ISI dropped their price target 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. Benchmark lowered their price objective on Exact Sciences from $67.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group raised their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and an average target price of $75.29.

Insider Activity at Exact Sciences

In other news, 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 owns 12,758 shares in the company, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now 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 disclosure for this purchase can be found here. 1.36% of the stock is currently owned by insiders.

Exact Sciences Stock Up 0.6 %

Exact Sciences stock traded up $0.39 during trading on Friday, reaching $62.08. 1,254,807 shares of the company's stock were exchanged, compared to its average volume of 3,926,634. The firm has a market cap of $11.49 billion, a price-to-earnings 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 52-week low of $40.62 and a 52-week high of $79.62. The company's 50-day moving average is $63.85 and its two-hundred day moving average is $56.03.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $716.80 million. The business's revenue was up 12.8% compared to the same quarter last year. On average, analysts predict that Exact Sciences Co. will post -1.13 earnings per share for the current year.

About Exact Sciences

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.