Quantinno Capital Management LP Takes $223,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Quantinno Capital Management LP bought a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,271 shares of the medical research company’s stock, valued at approximately $223,000.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Exact Sciences by 6.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 38,222 shares of the medical research company’s stock worth $1,615,000 after buying an additional 2,413 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Exact Sciences by 179.8% during the second quarter. Assenagon Asset Management S.A. now owns 21,299 shares of the medical research company’s stock valued at $900,000 after purchasing an additional 13,688 shares during the period. Blue Trust Inc. grew its holdings in shares of Exact Sciences by 6,516.3% in the second quarter. Blue Trust Inc. now owns 3,242 shares of the medical research company’s stock worth $137,000 after purchasing an additional 3,193 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Exact Sciences by 128.5% in the second quarter. Brookstone Capital Management now owns 12,806 shares of the medical research company’s stock worth $541,000 after buying an additional 7,201 shares during the period. Finally, Goldstein Advisors LLC raised its holdings in Exact Sciences by 11.7% during the 2nd quarter. Goldstein Advisors LLC now owns 6,436 shares of the medical research company’s stock valued at $272,000 after buying an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

EXAS stock opened at $60.75 on Tuesday. 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 firm has a 50 day moving average price of $62.56 and a 200-day moving average price of $56.98. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of -51.92 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted 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). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EXAS shares. Bank of America cut their price target on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday. Sanford C. Bernstein raised their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI cut their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen upped their target price on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Insider Transactions at Exact Sciences

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

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.