Exact Sciences Co. (NASDAQ:EXAS) Stake Raised by Harbour Investments Inc.

Harbour Investments Inc. grew its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,790 shares of the medical research company’s stock after purchasing an additional 2,518 shares during the period. Harbour Investments Inc.’s holdings in Exact Sciences were worth $2,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EXAS. WCM Investment Management LLC grew its position in Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after buying an additional 172,821 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Exact Sciences during the 3rd quarter worth $1,040,000. Patten & Patten Inc. TN grew its holdings in shares of Exact Sciences by 13.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 25,693 shares of the medical research company’s stock worth $1,750,000 after acquiring an additional 3,138 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Exact Sciences during the third quarter worth $4,228,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Exact Sciences during the third quarter worth $243,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Activity at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Brian Baranick sold 929 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXAS. Benchmark dropped their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. BTIG Research cut 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, November 6th. Robert W. Baird decreased their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their target price 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. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.47.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $50.73 on Thursday. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The stock’s 50-day moving average is $66.22 and its two-hundred day moving average is $56.30. 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 firm has a market cap of $9.39 billion, a P/E ratio of -43.36 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during 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%. The company’s revenue was up 12.8% compared to the same quarter last year. Analysts predict that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

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.