EFG Asset Management Americas Corp. Boosts Position in Exact Sciences Co. (NASDAQ:EXAS)

EFG Asset Management Americas Corp. boosted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,780 shares of the medical research company’s stock after purchasing an additional 482 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Exact Sciences were worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EXAS. KB Financial Partners LLC purchased a new stake in shares of Exact Sciences in the second quarter valued at $32,000. Wolff Wiese Magana LLC lifted its position in Exact Sciences by 459.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after buying an additional 340 shares during the period. BluePath Capital Management LLC purchased a new position in Exact Sciences during the third quarter worth about $33,000. Coppell Advisory Solutions LLC purchased a new position in Exact Sciences during the second quarter worth about $46,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Exact Sciences during the third quarter worth about $34,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Down 4.0 %

EXAS stock opened at $60.96 on Monday. 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 Co. has a 1 year low of $56.05 and a 1 year high of $100.77. The stock has a 50-day simple moving average of $63.42 and a 200-day simple moving average of $65.06.

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

Insider Activity at Exact Sciences

In related news, General Counsel James Herriott sold 421 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Sarah Condella sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the executive vice president now owns 73,787 shares of the company’s stock, valued at $5,165,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James Herriott sold 421 shares of the 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 completion of the transaction, the general counsel now directly owns 6,494 shares of the company’s stock, valued at approximately $398,926.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,113 shares of company stock valued at $4,165,273. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXAS shares. Canaccord Genuity Group reduced their target price on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Benchmark upgraded Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, January 2nd. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Citigroup restated a “buy” rating and set a $100.00 price target on shares of Exact Sciences in a research note on Wednesday, April 3rd. Finally, TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.44.

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.