Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC reduced its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 62,274 shares of the medical research company’s stock after selling 700 shares during the quarter. Exact Sciences makes up 1.4% of Quantum Private Wealth LLC’s portfolio, making the stock its 13th largest position. Quantum Private Wealth LLC’s holdings in Exact Sciences were worth $4,242,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Daiwa Securities Group Inc. grew its stake in Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after acquiring an additional 200 shares during the period. Oppenheimer & Co. Inc. grew its stake in Exact Sciences by 1.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock worth $1,594,000 after acquiring an additional 401 shares during the period. ClariVest Asset Management LLC grew its stake in Exact Sciences by 32.4% in the 1st quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company’s stock worth $1,748,000 after acquiring an additional 6,192 shares during the period. Zevenbergen Capital Investments LLC grew its stake in Exact Sciences by 20.5% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 1,361,415 shares of the medical research company’s stock worth $94,019,000 after acquiring an additional 231,591 shares during the period. Finally, Lipe & Dalton grew its stake in Exact Sciences by 32.9% in the 1st quarter. Lipe & Dalton now owns 7,270 shares of the medical research company’s stock worth $502,000 after acquiring an additional 1,800 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EXAS. Canaccord Genuity Group lowered their price objective 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. Stifel Nicolaus lowered their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday. Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, TD Cowen lowered their price objective on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $53.38 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm’s 50-day simple moving average is $66.96 and its 200-day simple moving average is $56.63. The firm has a market cap of $9.86 billion, a PE ratio of -55.45 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue was up 12.8% on a year-over-year basis. Equities analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

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.