Black Swift Group LLC Buys New Stake in Exact Sciences Co. (NASDAQ:EXAS)

Black Swift Group LLC bought a new position in Exact Sciences Co. (NASDAQ:EXAS) during the 3rd quarter, Holdings Channel reports. The fund bought 3,000 shares of the medical research company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXAS. Huntington National Bank grew its stake in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the 3rd quarter worth $35,000. Vestor Capital LLC acquired a new position in shares of Exact Sciences during the third quarter valued at about $46,000. V Square Quantitative Management LLC acquired a new position in shares of Exact Sciences during the third quarter valued at about $47,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences in the second quarter valued at about $29,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several recent research reports. Sanford C. Bernstein upped their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI cut their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Stifel Nicolaus dropped 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, November 6th. Finally, Robert W. Baird lowered their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Exact Sciences Price Performance

Shares of EXAS stock traded down $1.39 during trading hours on Thursday, reaching $49.34. 212,578 shares of the company were exchanged, compared to its average volume of 2,635,294. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The stock’s fifty day moving average is $66.22 and its two-hundred day moving average is $56.30. The company has a market cap of $9.13 billion, a price-to-earnings ratio of -43.36 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data 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 firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’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 -1.08 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was 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 approximately $958,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is owned by company insiders.

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.