Baillie Gifford & Co. Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Baillie Gifford & Co. cut its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 15.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,209,501 shares of the medical research company's stock after selling 217,116 shares during the period. Baillie Gifford & Co. owned 0.65% of Exact Sciences worth $82,391,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences during the 2nd quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences during the third quarter worth $35,000. Vestor Capital LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at $46,000. V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC boosted its position 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 worth $49,000 after purchasing an additional 340 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy acquired 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost 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 of the company's stock, valued at approximately $55,159,707.85. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company's stock, valued at approximately $55,159,707.85. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

Exact Sciences Stock Up 1.1 %

EXAS stock traded up $0.57 during midday trading on Wednesday, hitting $50.73. 7,091,185 shares of the stock traded hands, compared to its average volume of 2,646,286. The stock's fifty day simple moving average is $66.35 and its 200-day simple moving average is $56.34. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released 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). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts anticipate that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXAS. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $75.00 price target for the company. Sanford C. Bernstein increased their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Piper Sandler decreased their price target on shares of Exact Sciences from $85.00 to $75.00 and set an "overweight" rating for the company in a report on Monday. Finally, Benchmark dropped their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.47.

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.