Moody National Bank Trust Division Decreases Stake in Exact Sciences Co. (NASDAQ:EXAS)

Moody National Bank Trust Division lessened its holdings in Exact Sciences Co. (NASDAQ:EXASFree Report) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,866 shares of the medical research company’s stock after selling 898 shares during the quarter. Moody National Bank Trust Division’s holdings in Exact Sciences were worth $611,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Groupama Asset Managment purchased a new position in shares of Exact Sciences in the 3rd quarter valued at $821,000. Sculptor Capital LP purchased a new position in shares of Exact Sciences during the second quarter worth about $32,819,000. Samlyn Capital LLC purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at about $30,426,000. Armistice Capital LLC boosted its position in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new position in Exact Sciences during the 3rd quarter worth approximately $28,608,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler reduced their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. TD Cowen increased their target price on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upped their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.94.

View Our Latest Stock Report on EXAS

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $54.20 on Wednesday. The company’s fifty day moving average is $57.57 and its two-hundred day moving average is $58.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The firm has a market capitalization of $10.03 billion, a P/E ratio of -46.32 and a beta of 1.24. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXASGet Free Report) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Exact Sciences Company 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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