Metis Global Partners LLC Takes $241,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Metis Global Partners LLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,533 shares of the medical research company’s stock, valued at approximately $241,000.

Other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its holdings in Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after buying an additional 172,821 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after purchasing an additional 10,356 shares during the last quarter. Profund Advisors LLC boosted its holdings in Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Exact Sciences in the second quarter valued at approximately $163,896,000. Finally, Swedbank AB acquired a new stake in Exact Sciences during the first quarter worth approximately $2,719,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Up 8.8 %

EXAS opened at $53.92 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a market capitalization of $9.98 billion, a P/E ratio of -46.09 and a beta of 1.27. The business has a 50 day simple moving average of $65.55 and a 200-day simple moving average of $56.02.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The firm’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts anticipate that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EXAS shares. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Piper Sandler reduced their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Citigroup dropped their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum reduced their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, BTIG Research lowered their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $74.47.

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.