Exact Sciences Co. (NASDAQ:EXAS) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 547,680 shares of the medical research company's stock after buying an additional 12,600 shares during the period. Swiss National Bank owned approximately 0.30% of Exact Sciences worth $37,308,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Huntington National Bank lifted its holdings in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after acquiring an additional 352 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Exact Sciences during the third quarter worth $35,000. Vestor Capital LLC purchased a new position in shares of Exact Sciences during the third quarter worth $46,000. V Square Quantitative Management LLC purchased a new position in shares of Exact Sciences during the third quarter worth $47,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the second quarter valued at $29,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS traded up $0.69 during trading hours on Thursday, reaching $53.39. The stock had a trading volume of 1,829,601 shares, compared to its average volume of 2,645,437. The firm has a 50-day moving average of $65.04 and a 200-day moving average of $55.98. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of -45.63 and a beta of 1.27. 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 Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced 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 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. The business's revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares of the company's stock, valued at $958,090. This represents a 6.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Benchmark lowered their target price on Exact Sciences from $67.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Sanford C. Bernstein increased their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Wells Fargo & Company began coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an "overweight" rating and a $75.00 target price on the stock. Craig Hallum decreased their price target on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $74.47.

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.