Exact Sciences Co. (NASDAQ:EXAS) Stock Position Lessened by Green Alpha Advisors LLC

Green Alpha Advisors LLC decreased its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,728 shares of the medical research company’s stock after selling 440 shares during the quarter. Green Alpha Advisors LLC’s holdings in Exact Sciences were worth $444,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bank of Nova Scotia bought a new position in Exact Sciences during the fourth quarter valued at about $265,000. Assetmark Inc. lifted its holdings in shares of Exact Sciences by 38.1% during the first quarter. Assetmark Inc. now owns 855 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 236 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Exact Sciences by 7,630.7% during the first quarter. Global Retirement Partners LLC now owns 8,813 shares of the medical research company’s stock valued at $561,000 after purchasing an additional 8,699 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Exact Sciences by 537.5% during the first quarter. Victory Capital Management Inc. now owns 126,755 shares of the medical research company’s stock valued at $8,595,000 after purchasing an additional 106,872 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Exact Sciences by 4.1% in the 1st quarter. LPL Financial LLC now owns 82,609 shares of the medical research company’s stock worth $5,602,000 after acquiring an additional 3,289 shares in the last quarter. Institutional investors own 89.13% of the company’s stock.

Exact Sciences Trading Down 1.3 %

Shares of EXAS stock opened at $77.38 on Friday. The stock has a 50 day moving average of $87.55 and a two-hundred day moving average of $79.52. The company has a current ratio of 2.41, a quick ratio of 2.14 and a debt-to-equity ratio of 0.76. Exact Sciences Co. has a 12 month low of $29.27 and a 12 month high of $100.77.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, August 1st. The medical research company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. Exact Sciences had a negative return on equity of 14.08% and a negative net margin of 18.76%. The company had revenue of $622.10 million during the quarter, compared to the consensus estimate of $601.14 million. During the same quarter last year, the company earned ($0.94) EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts expect that Exact Sciences Co. will post -1.9 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel James Herriott sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $100.00, for a total transaction of $130,000.00. Following the completion of the transaction, the general counsel now owns 5,964 shares in the company, valued at approximately $596,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jeffrey Thomas Elliott sold 30,210 shares of Exact Sciences stock in a transaction on Monday, August 21st. The stock was sold at an average price of $82.92, for a total value of $2,505,013.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel James Herriott sold 1,300 shares of Exact Sciences stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $130,000.00. Following the completion of the sale, the general counsel now directly owns 5,964 shares of the company’s stock, valued at $596,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,860 shares of company stock worth $2,944,657. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on EXAS. Credit Suisse Group increased their price objective on Exact Sciences from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Bank of America upped their target price on Exact Sciences from $105.00 to $110.00 in a research report on Wednesday, August 2nd. Craig Hallum upped their target price on Exact Sciences from $85.00 to $106.00 in a research report on Thursday, June 22nd. BTIG Research increased their price objective on Exact Sciences from $95.00 to $110.00 in a report on Thursday, June 22nd. Finally, Robert W. Baird increased their price objective on Exact Sciences from $99.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Exact Sciences Company 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.