Frazier Financial Advisors LLC Trims Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Frazier Financial Advisors LLC cut its stake in Exact Sciences Co. (NASDAQ:EXAS) by 63.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 498 shares of the medical research company’s stock after selling 871 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Exact Sciences were worth $34,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after buying an additional 12,349 shares during the period. WCM Investment Management LLC boosted its stake in Exact Sciences by 1,153.2% during the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after buying an additional 172,821 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after buying an additional 10,356 shares during the period. Simplify Asset Management Inc. boosted its stake in Exact Sciences by 67.5% during the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after buying an additional 11,800 shares during the period. Finally, Profund Advisors LLC boosted its stake in Exact Sciences by 239.8% during the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after buying an additional 55,459 shares during the period. Institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein lifted their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company began coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. TD Cowen dropped their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. BTIG Research dropped their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Craig Hallum dropped their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.47.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $49.33 on Friday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year 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 stock’s 50-day moving average is $65.83 and its 200 day moving average is $56.18.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

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

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.