Baillie Gifford & Co. Sells 217,116 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Baillie Gifford & Co. reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 15.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,209,501 shares of the medical research company’s stock after selling 217,116 shares during the period. Baillie Gifford & Co.’s holdings in Exact Sciences were worth $82,391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXAS. Vanguard Group Inc. raised its stake in shares of Exact Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after acquiring an additional 180,341 shares during the last quarter. Capital World Investors increased its holdings in Exact Sciences by 74.4% during the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC bought a new position in Exact Sciences in the 2nd quarter valued at $163,896,000. Champlain Investment Partners LLC boosted its stake in Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of 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 last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 13,687 shares in the company, valued at $958,090. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.36% of the company’s stock.

Exact Sciences Trading Down 2.3 %

NASDAQ:EXAS opened at $50.16 on Wednesday. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of -42.87 and a beta of 1.27. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The business’s 50-day moving average price is $66.35 and its two-hundred day moving average price is $56.34. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that Exact Sciences Co. will post -1.02 earnings per share for the current year.

Analyst Ratings Changes

EXAS has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group upped their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Sanford C. Bernstein raised their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reduced their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Canaccord Genuity Group decreased their price objective on Exact Sciences from $95.00 to $75.00 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.47.

Exact Sciences Company 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.