Everence Capital Management Inc. Takes $356,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Everence Capital Management Inc. acquired a new position in Exact Sciences Co. (NASDAQ:EXAS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,330 shares of the medical research company’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in shares of Exact Sciences by 13.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 105,083 shares of the medical research company’s stock valued at $4,440,000 after purchasing an additional 12,844 shares during the period. CIBC Asset Management Inc boosted its stake in Exact Sciences by 6.2% in the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after purchasing an additional 356 shares during the period. Candriam S.C.A. grew its position in Exact Sciences by 7.4% during the 2nd quarter. Candriam S.C.A. now owns 212,527 shares of the medical research company’s stock worth $8,979,000 after purchasing an additional 14,674 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Exact Sciences during the 2nd quarter valued at $160,000. Finally, Emerald Advisers LLC acquired a new stake in shares of Exact Sciences in the second quarter worth $227,000. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on EXAS shares. TD Cowen raised their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Canaccord Genuity Group decreased their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Benchmark cut their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. BTIG Research raised their price target on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America dropped their price objective on Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.94.

Exact Sciences Trading Up 1.0 %

NASDAQ:EXAS opened at $57.80 on Tuesday. The business’s 50-day simple moving average is $58.86 and its 200-day simple moving average is $58.50. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The stock has a market capitalization of $10.70 billion, a PE ratio of -49.40 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued 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. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.36% of the stock is owned by 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.