Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. cut its stake in Exact Sciences Co. (NASDAQ:EXAS) by 22.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 603 shares of the medical research company’s stock after selling 170 shares during the quarter. Valley National Advisers Inc.’s holdings in Exact Sciences were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EXAS. Vanguard Group Inc. increased 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 worth $541,823,000 after purchasing an additional 698,740 shares during the last quarter. Capital World Investors increased its position in shares of Exact Sciences by 17.2% during the 1st quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock worth $383,652,000 after purchasing an additional 804,159 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Exact Sciences by 11.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock worth $270,254,000 after purchasing an additional 418,770 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Exact Sciences by 3.7% during the 1st quarter. Geode Capital Management LLC now owns 2,591,057 shares of the medical research company’s stock worth $175,458,000 after purchasing an additional 91,883 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Exact Sciences by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,666,008 shares of the medical research company’s stock worth $113,655,000 after purchasing an additional 133,945 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Guggenheim initiated coverage on Exact Sciences in a research note on Thursday, December 14th. They issued a “buy” rating and a $90.00 price objective for the company. Citigroup reiterated a “buy” rating and issued a $100.00 price objective on shares of Exact Sciences in a research note on Wednesday, April 3rd. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Finally, Wolfe Research assumed coverage on Exact Sciences in a research note on Wednesday, December 13th. They set an “outperform” rating and a $95.00 target price for the company. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.44.

Insider Transactions at Exact Sciences

In other Exact Sciences news, General Counsel James Herriott sold 421 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $25,862.03. Following the transaction, the general counsel now owns 6,494 shares of the company’s stock, valued at $398,926.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exact Sciences news, insider Jacob A. Orville sold 966 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the transaction, the insider now owns 7,488 shares in the company, valued at $459,987.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel James Herriott sold 421 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $25,862.03. Following the transaction, the general counsel now owns 6,494 shares in the company, valued at $398,926.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,113 shares of company stock valued at $4,165,273. Insiders own 1.30% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $73.60 on Thursday. Exact Sciences Co. has a 12-month low of $56.05 and a 12-month high of $100.77. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of -64.56 and a beta of 1.25. The business’s 50 day moving average is $62.95 and its two-hundred day moving average is $65.12. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. During the same period in the prior year, the firm earned ($0.72) EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts expect that Exact Sciences Co. will post -0.86 EPS for the current year.

About Exact Sciences

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.