SteelPeak Wealth LLC Buys New Position in Exact Sciences Co. (NASDAQ:EXAS)

SteelPeak Wealth LLC purchased a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,161 shares of the medical research company’s stock, valued at approximately $287,000.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC increased its stake in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares during the last quarter. Able Wealth Management LLC bought a new stake in Exact Sciences during the fourth quarter worth $45,000. Fortitude Family Office LLC purchased a new position in Exact Sciences in the first quarter worth $55,000. National Bank of Canada FI boosted its position in Exact Sciences by 30.9% in the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock worth $63,000 after purchasing an additional 200 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Exact Sciences during the 4th quarter valued at $66,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Trading Down 5.0 %

Shares of NASDAQ:EXAS opened at $42.25 on Monday. Exact Sciences Co. has a one year low of $40.62 and a one year high of $100.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.64 and a quick ratio of 1.45. The company’s fifty day moving average price is $50.41 and its 200-day moving average price is $60.16.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The firm had revenue of $637.52 million for the quarter, compared to analyst estimates of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. As a group, analysts anticipate that Exact Sciences Co. will post -1.15 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,498 shares of company stock valued at $90,105. 1.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EXAS has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price target on the stock. BTIG Research decreased their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Canaccord Genuity Group dropped their price target on Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Citigroup decreased their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Scotiabank started coverage on shares of Exact Sciences in a research note on Thursday. They set a “sector outperform” rating and a $70.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and thirteen 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 $87.86.

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.