Graham Capital Management L.P. Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Graham Capital Management L.P. lessened its stake in Exact Sciences Co. (NASDAQ:EXASFree Report) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,601 shares of the medical research company’s stock after selling 742 shares during the quarter. Graham Capital Management L.P.’s holdings in Exact Sciences were worth $450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Exact Sciences by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,676,611 shares of the medical research company’s stock valued at $541,823,000 after buying an additional 698,740 shares during the last quarter. Capital World Investors lifted its stake in shares of Exact Sciences by 2.6% in the 2nd quarter. Capital World Investors now owns 6,797,960 shares of the medical research company’s stock worth $638,328,000 after acquiring an additional 173,174 shares during the period. Artisan Partners Limited Partnership lifted its stake in Exact Sciences by 11.8% during the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock valued at $270,254,000 after purchasing an additional 418,770 shares during the last quarter. Geode Capital Management LLC lifted its stake in Exact Sciences by 4.1% during the second quarter. Geode Capital Management LLC now owns 2,696,040 shares of the medical research company’s stock valued at $252,753,000 after purchasing an additional 104,983 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Exact Sciences by 8.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,666,008 shares of the medical research company’s stock valued at $113,655,000 after acquiring an additional 133,945 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $57.71 on Monday. Exact Sciences Co. has a one year low of $56.05 and a one year high of $100.77. The stock has a 50 day moving average price of $62.52 and a 200 day moving average price of $66.46. The stock has a market cap of $10.48 billion, a PE ratio of -50.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32.

Exact Sciences (NASDAQ:EXASGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. The business had revenue of $646.89 million for the quarter, compared to analysts’ expectations of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.72) EPS. Equities research analysts expect that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Insider Activity

In related news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $73.50, for a total transaction of $147,000.00. Following the sale, the executive vice president now owns 69,423 shares of the company’s stock, valued at $5,102,590.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $73.50, for a total transaction of $147,000.00. Following the sale, the executive vice president now directly owns 69,423 shares of the company’s stock, valued at $5,102,590.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel James Herriott sold 415 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $61.50, for a total transaction of $25,522.50. Following the completion of the transaction, the general counsel now owns 6,943 shares in the company, valued at $426,994.50. The disclosure for this sale can be found here. Insiders sold 67,992 shares of company stock worth $4,096,879 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EXAS. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. TheStreet cut shares of Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Guggenheim started coverage on shares of Exact Sciences in a research note on Thursday, December 14th. They issued a “buy” rating and a $90.00 price target on the stock. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Benchmark upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.31.

View Our Latest Research Report on EXAS

Exact Sciences Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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