Private Advisor Group LLC Trims Stake in Exact Sciences Co. (NASDAQ:EXAS)

Private Advisor Group LLC lowered its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,049 shares of the medical research company’s stock after selling 572 shares during the quarter. Private Advisor Group LLC’s holdings in Exact Sciences were worth $1,706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXAS. Wealth Enhancement Advisory Services LLC raised its position in Exact Sciences by 1.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,809 shares of the medical research company’s stock valued at $2,473,000 after purchasing an additional 498 shares during the period. Diversified Trust Co raised its holdings in shares of Exact Sciences by 138.0% in the 1st quarter. Diversified Trust Co now owns 9,980 shares of the medical research company’s stock valued at $689,000 after buying an additional 5,786 shares during the period. Van ECK Associates Corp raised its holdings in shares of Exact Sciences by 3.7% in the 1st quarter. Van ECK Associates Corp now owns 145,564 shares of the medical research company’s stock valued at $10,052,000 after buying an additional 5,174 shares during the period. Hussman Strategic Advisors Inc. raised its holdings in shares of Exact Sciences by 33.3% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the medical research company’s stock valued at $2,901,000 after buying an additional 10,500 shares during the period. Finally, Choreo LLC purchased a new stake in shares of Exact Sciences in the 1st quarter valued at $240,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Wells Fargo & Company began coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective on the stock. Piper Sandler boosted their target price on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. The Goldman Sachs Group lowered their target price on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Evercore ISI boosted their target price on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $80.64.

Exact Sciences Trading Up 1.2 %

EXAS opened at $70.46 on Thursday. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company has a market cap of $13.00 billion, a P/E ratio of -53.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The business’s 50-day simple moving average is $66.41 and its 200-day simple moving average is $56.52.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.45) EPS. As a group, equities research analysts expect that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on 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 owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.36% of the stock is currently 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.