Victory Capital Management Inc. Has $2.86 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Victory Capital Management Inc. lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,971 shares of the medical research company’s stock after selling 16,449 shares during the period. Victory Capital Management Inc.’s holdings in Exact Sciences were worth $2,859,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EXAS. UniSuper Management Pty Ltd boosted its stake in shares of Exact Sciences by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the medical research company’s stock valued at $180,000 after buying an additional 1,300 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Exact Sciences in the 1st quarter valued at $67,000. Advisors Asset Management Inc. lifted its stake in shares of Exact Sciences by 25.9% in the 1st quarter. Advisors Asset Management Inc. now owns 36,779 shares of the medical research company’s stock valued at $2,540,000 after purchasing an additional 7,574 shares during the last quarter. BOKF NA lifted its stake in shares of Exact Sciences by 28.2% in the 1st quarter. BOKF NA now owns 22,338 shares of the medical research company’s stock valued at $1,573,000 after purchasing an additional 4,909 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Exact Sciences in the 1st quarter valued at $1,637,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EXAS shares. Citigroup reduced their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen reduced their price objective on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Benchmark reduced their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” 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 report on Thursday, September 26th. Finally, Evercore ISI dropped their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Insider Activity at Exact Sciences

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 1.85 % 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 dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $52.91 on Friday. The firm’s 50-day moving average is $64.79 and its 200-day moving average is $55.87. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -45.22 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts anticipate that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Exact Sciences 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.