Van ECK Associates Corp Sells 17,484 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Van ECK Associates Corp cut its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,865 shares of the medical research company's stock after selling 17,484 shares during the quarter. Van ECK Associates Corp owned 0.07% of Exact Sciences worth $9,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in EXAS. V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at approximately $47,000. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock valued at $49,000 after buying an additional 340 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences during the 3rd quarter valued at about $49,000. Finally, EntryPoint Capital LLC acquired a new stake in Exact Sciences during the first quarter worth about $67,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares of the company's stock, valued at approximately $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Cowen lowered their price target on shares of Exact Sciences from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday. BTIG Research dropped their price target on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday. Raymond James reaffirmed a "market perform" rating on shares of Exact Sciences in a report on Thursday, September 26th. Citigroup decreased their price objective on Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Stifel Nicolaus cut their target price on Exact Sciences from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

Exact Sciences Trading Down 4.0 %

Shares of EXAS traded down $2.18 during trading hours on Thursday, hitting $52.54. 3,169,169 shares of the stock traded hands, compared to its average volume of 2,597,388. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The firm has a market capitalization of $9.71 billion, a PE ratio of -57.00 and a beta of 1.27. The business has a fifty day moving average of $67.14 and a 200-day moving average of $56.65.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its 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 4.97% and a negative net margin of 6.70%. The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The business's quarterly revenue was up 12.8% compared to the same quarter last year. Analysts expect that Exact Sciences Co. will post -0.87 EPS for the current 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.