Eventide Asset Management LLC Grows Position in Exact Sciences Co. (NASDAQ:EXAS)

Eventide Asset Management LLC lifted its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 0.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,232,119 shares of the medical research company’s stock after buying an additional 391 shares during the period. Exact Sciences makes up 1.4% of Eventide Asset Management LLC’s holdings, making the stock its 18th biggest position. Eventide Asset Management LLC owned 0.67% of Exact Sciences worth $83,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXAS. William Blair Investment Management LLC purchased a new stake in shares of Exact Sciences in the second quarter valued at approximately $163,896,000. Sculptor Capital LP purchased a new stake in shares of Exact Sciences in the second quarter valued at about $32,819,000. Samlyn Capital LLC acquired a new stake in Exact Sciences during the second quarter worth about $30,426,000. Armistice Capital LLC raised its stake in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after purchasing an additional 669,438 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in Exact Sciences by 10.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after purchasing an additional 245,980 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

EXAS stock opened at $61.69 on Friday. The business has a 50 day moving average price of $64.20 and a 200 day moving average price of $55.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXAS. Stifel Nicolaus lowered their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Craig Hallum cut their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. BTIG Research raised their price target on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group lowered their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.29.

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.