Sheaff Brock Investment Advisors LLC Takes $225,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,300 shares of the medical research company’s stock, valued at approximately $225,000.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Exact Sciences by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after acquiring an additional 12,349 shares during the period. WCM Investment Management LLC lifted its stake in shares of 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 acquiring an additional 172,821 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Exact Sciences by 5.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares during the period. Profund Advisors LLC lifted its stake in shares of Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after acquiring an additional 55,459 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Exact Sciences in the second quarter worth approximately $163,896,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value 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. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, 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 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.36% of the company’s stock.

Exact Sciences Stock Down 3.1 %

Shares of NASDAQ:EXAS opened at $49.33 on Friday. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -42.16 and a beta of 1.27. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The business’s 50 day moving average is $65.83 and its 200 day moving average is $56.18.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXAS. TD Cowen lowered their target price on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Benchmark lowered their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Citigroup lowered their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group lowered their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $74.47.

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.