Xponance Inc. Raises Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Xponance Inc. boosted its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,576 shares of the medical research company’s stock after purchasing an additional 799 shares during the period. Xponance Inc.’s holdings in Exact Sciences were worth $912,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after buying an additional 179 shares during the last quarter. Able Wealth Management LLC bought a new stake in shares of Exact Sciences in the 4th quarter worth approximately $45,000. Itau Unibanco Holding S.A. purchased a new position in Exact Sciences in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Exact Sciences by 92.4% during the first 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 period. Finally, Fortitude Family Office LLC purchased a new stake in Exact Sciences in the first quarter worth $55,000. Institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

EXAS has been the subject of several research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $75.00 price target on shares of Exact Sciences in a research note on Friday, September 13th. Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Stifel Nicolaus lowered their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a report on Thursday. Finally, Benchmark lowered their target price on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.77.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Wednesday, September 18th. The stock was 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 owns 13,687 shares of the company’s stock, valued at $958,090. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.36% of the stock is owned by insiders.

Exact Sciences Stock Performance

Shares of EXAS opened at $65.96 on Friday. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The company has a market cap of $12.17 billion, a PE ratio of -49.97 and a beta of 1.26. The stock has a 50-day moving average price of $59.32 and a 200-day moving average price of $56.12.

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

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.