Friedenthal Financial Purchases New Stake in Exact Sciences Co. (NASDAQ:EXAS)

Friedenthal Financial bought a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, Holdings Channel reports. The fund bought 11,770 shares of the medical research company’s stock, valued at approximately $802,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Exact Sciences by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after purchasing an additional 115,058 shares during the period. PNC Financial Services Group Inc. raised its stake in Exact Sciences by 30.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 18,191 shares of the medical research company’s stock valued at $1,346,000 after acquiring an additional 4,258 shares during the period. Mather Group LLC. purchased a new stake in Exact Sciences during the first quarter valued at about $79,000. Fulton Bank N.A. boosted its position in Exact Sciences by 15.0% during the first quarter. Fulton Bank N.A. now owns 6,588 shares of the medical research company’s stock worth $455,000 after purchasing an additional 857 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in shares of Exact Sciences by 35.6% in the first quarter. Banque Cantonale Vaudoise now owns 6,841 shares of the medical research company’s stock worth $472,000 after purchasing an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Up 3.9 %

Shares of NASDAQ:EXAS opened at $71.93 on Friday. The firm has a fifty day moving average of $64.58 and a 200 day moving average of $56.76. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The firm has a market capitalization of $13.27 billion, a PE ratio of -54.49 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.28. The firm had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. As a group, research analysts anticipate that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on EXAS shares. BTIG Research reduced their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Scotiabank started coverage on Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective on the stock. Wells Fargo & Company initiated coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

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.