Exact Sciences Co. (NASDAQ:EXAS) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 59.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 335,705 shares of the medical research company's stock after buying an additional 125,192 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of Exact Sciences worth $22,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank boosted its holdings in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Exact Sciences in the 3rd quarter valued at approximately $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences in the 3rd quarter valued at approximately $46,000. V Square Quantitative Management LLC purchased a new stake in Exact Sciences in the 3rd quarter valued at approximately $47,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Exact Sciences in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Insider Transactions at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction 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 of the company's stock, valued at approximately $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EXAS shares. Canaccord Genuity Group reduced their price target on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Piper Sandler reduced their price target 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. Benchmark reduced their price target on shares of Exact Sciences from $67.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Raymond James reiterated a "market perform" rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, Evercore ISI reduced their price target on shares of Exact Sciences from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.47.

Exact Sciences Trading Up 1.3 %

Shares of Exact Sciences stock traded up $0.69 during trading hours on Thursday, reaching $53.39. 1,829,601 shares of the company's stock were exchanged, compared to its average volume of 2,645,437. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of -45.63 and a beta of 1.27. The company has a fifty day moving average of $65.04 and a 200-day moving average of $55.98. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

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 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 business had revenue of $708.66 million for the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences's revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Co. will post -1.08 EPS 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.