Walkner Condon Financial Advisors LLC Reduces Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Walkner Condon Financial Advisors LLC reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,983 shares of the medical research company’s stock after selling 458 shares during the quarter. Walkner Condon Financial Advisors LLC’s holdings in Exact Sciences were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors grew its position in Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after buying an additional 5,557,168 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences during the 2nd quarter valued at $163,896,000. Champlain Investment Partners LLC increased its stake in shares of Exact Sciences by 175.3% in the 1st 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. Sculptor Capital LP bought a new position in Exact Sciences in the 2nd quarter worth $32,819,000. Finally, Samlyn Capital LLC purchased a new position in Exact Sciences during the second quarter valued at $30,426,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EXAS. Stifel Nicolaus lowered their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday. BTIG Research lowered their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler raised their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Evercore ISI dropped their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Craig Hallum decreased their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Price Performance

Exact Sciences stock opened at $54.72 on Thursday. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average is $67.14 and its 200 day moving average is $56.65. The company has a market cap of $10.11 billion, a price-to-earnings ratio of -57.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced 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). The business had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

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.