Braidwell LP Sells 855,500 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Braidwell LP decreased its stake in Exact Sciences Co. (NASDAQ:EXAS) by 74.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,178 shares of the medical research company’s stock after selling 855,500 shares during the period. Braidwell LP’s holdings in Exact Sciences were worth $19,494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EXAS. Chicago Partners Investment Group LLC increased its holdings in shares of Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares during the period. Amalgamated Bank lifted its position in shares of Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the last quarter. Huntington National Bank grew its position in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Exact Sciences by 6.2% in the second quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock valued at $258,000 after acquiring an additional 356 shares during the period. Institutional investors own 88.82% of the company’s stock.

Insider Activity at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is owned by insiders.

Exact Sciences Stock Up 2.6 %

Shares of NASDAQ:EXAS opened at $61.69 on Friday. The firm has a fifty day moving average of $64.20 and a 200 day moving average of $55.93. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

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). The firm 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 7.95% and a negative return on equity of 6.17%. Exact Sciences’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 -1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of analyst reports. Piper Sandler decreased their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Craig Hallum dropped their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus reduced their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, TD Cowen raised their price objective on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

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.