American Trust Takes $229,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

American Trust purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, Holdings Channel reports. The firm purchased 3,359 shares of the medical research company’s stock, valued at approximately $229,000.

Other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new position in shares of Exact Sciences during the second quarter worth approximately $163,896,000. Geode Capital Management LLC boosted its stake in Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after purchasing an additional 7,873 shares during the period. Champlain Investment Partners LLC grew its position in Exact Sciences by 10.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after purchasing an additional 245,980 shares during the last quarter. Bellevue Group AG increased its stake in Exact Sciences by 25.1% in the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after purchasing an additional 290,585 shares during the period. Finally, Armistice Capital LLC increased its stake in Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now owns 13,687 shares of the company’s stock, valued at $958,090. The trade was a 6.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction 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 disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein raised their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group dropped their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Benchmark decreased their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $73.94.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $61.25 on Friday. The business has a 50 day moving average price of $62.73 and a 200 day moving average price of $56.72. 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 company has a market capitalization of $11.34 billion, a P/E ratio of -52.35 and a beta of 1.24. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) 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 business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. The company’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts expect that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

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.