Sequoia Financial Advisors LLC Takes $569,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Sequoia Financial Advisors LLC purchased a new position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,360 shares of the medical research company's stock, valued at approximately $569,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new position in Exact Sciences in the second quarter worth about $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences during the third quarter worth $47,000. EverSource Wealth Advisors LLC grew its position in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock worth $49,000 after buying an additional 340 shares during the period. GAMMA Investing LLC increased its stake in Exact Sciences by 48.4% in the second quarter. GAMMA Investing LLC now owns 1,362 shares of the medical research company's stock valued at $58,000 after purchasing an additional 444 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Exact Sciences in the 1st quarter valued at $67,000. Institutional investors own 88.82% of the company's stock.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the company's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, September 12th. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an "overweight" rating and a $75.00 target price on the stock. Canaccord Genuity Group reiterated a "buy" rating and issued a $75.00 price target on shares of Exact Sciences in a research report on Friday, September 13th. Benchmark dropped their price target on Exact Sciences from $91.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Finally, Raymond James reaffirmed a "market perform" rating on shares of Exact Sciences in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.38.

Exact Sciences Price Performance

EXAS stock traded down $1.15 during trading on Friday, reaching $69.11. The company's stock had a trading volume of 864,851 shares, compared to its average volume of 1,621,294. The company has a quick ratio of 1.98, a current ratio of 2.17 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 company's fifty day moving average is $65.77 and its 200-day moving average is $56.46. The company has a market capitalization of $12.77 billion, a P/E ratio of -71.99 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.28. The firm had revenue of $699.26 million for the quarter, compared to analysts' expectations of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. On average, research analysts expect that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal 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.