Wasatch Advisors LP Reduces Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Wasatch Advisors LP decreased its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 13.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 437,873 shares of the medical research company's stock after selling 69,314 shares during the quarter. Wasatch Advisors LP owned 0.24% of Exact Sciences worth $29,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EXAS. Huntington National Bank lifted its position in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock valued at $27,000 after buying an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences during the third quarter worth $34,000. 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 Exact Sciences during the third quarter valued at $46,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences in the third quarter valued at about $47,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. William Blair restated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, November 21st. Citigroup dropped their price target on Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Sanford C. Bernstein raised their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.29.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy acquired 19,500 shares of the business's 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 transaction, the chief executive officer now owns 1,074,191 shares of the company's stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Exact Sciences Trading Up 0.6 %

Shares of Exact Sciences stock traded up $0.39 on Friday, reaching $62.08. The company had a trading volume of 1,254,807 shares, compared to its average volume of 3,926,634. 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 firm has a market cap of $11.49 billion, a PE ratio of -53.06 and a beta of 1.27. The firm's 50 day moving average price is $63.85 and its two-hundred day moving average price is $56.03. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) 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 firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal 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.