Gateway Investment Advisers LLC Sells 7,902 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Gateway Investment Advisers LLC reduced its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 54.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,530 shares of the medical research company's stock after selling 7,902 shares during the period. Gateway Investment Advisers LLC's holdings in Exact Sciences were worth $367,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its stake in Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company's stock worth $651,000 after buying an additional 158 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company's stock valued at $462,000 after acquiring an additional 284 shares in the last quarter. Huntington National Bank raised its position in Exact Sciences by 838.1% in the third 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 during the period. CIBC Asset Management Inc increased its stake in Exact Sciences by 6.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company's stock worth $442,000 after buying an additional 371 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Exact Sciences by 1.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company's stock valued at $1,952,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Price Performance

Exact Sciences stock traded up $1.30 on Monday, reaching $51.74. The company's stock had a trading volume of 2,930,977 shares, compared to its average volume of 1,384,925. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -44.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The business's fifty day moving average price is $57.15 and its 200 day moving average price is $59.26.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company's revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts expect that Exact Sciences Co. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions 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 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 $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXAS. BTIG Research upped their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Craig Hallum decreased their price target on Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their price objective on Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Piper Sandler cut their price objective on Exact Sciences from $85.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.94.

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.