Platform Technology Partners Invests $252,000 in Exact Sciences Co. (NASDAQ:EXAS)

Platform Technology Partners purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,643 shares of the medical research company’s stock, valued at approximately $252,000.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of Exact Sciences by 16.5% in the first quarter. American Century Companies Inc. now owns 5,760 shares of the medical research company’s stock worth $403,000 after purchasing an additional 817 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Exact Sciences during the first quarter valued at $742,000. Panagora Asset Management Inc. boosted its position in Exact Sciences by 4.6% during the first quarter. Panagora Asset Management Inc. now owns 7,281 shares of the medical research company’s stock valued at $509,000 after acquiring an additional 323 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Exact Sciences by 13.5% during the first quarter. Dimensional Fund Advisors LP now owns 448,640 shares of the medical research company’s stock valued at $31,377,000 after acquiring an additional 53,454 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Exact Sciences by 143.5% during the first quarter. Vontobel Holding Ltd. now owns 22,230 shares of the medical research company’s stock valued at $1,585,000 after acquiring an additional 13,102 shares during the last quarter. 89.13% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Trading Down 1.4 %

NASDAQ:EXAS traded down $1.04 on Monday, hitting $75.64. The stock had a trading volume of 559,258 shares, compared to its average volume of 1,930,514. 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 1 year low of $29.27 and a 1 year high of $100.77. The firm’s fifty day simple moving average is $87.27 and its two-hundred day simple moving average is $79.87.

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

Insider Activity

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

Wall Street Analyst Weigh In

EXAS has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of Exact Sciences from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Credit Suisse Group increased their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus increased their price objective on shares of Exact Sciences from $85.00 to $120.00 in a research report on Thursday, June 22nd. Robert W. Baird increased their price objective on shares of Exact Sciences from $99.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Benchmark cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target 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.