Jennison Associates LLC Sells 121,923 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Jennison Associates LLC trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 13.8% during the 4th quarter, Holdings Channel reports. The firm owned 762,736 shares of the medical research company’s stock after selling 121,923 shares during the period. Jennison Associates LLC’s holdings in Exact Sciences were worth $42,858,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EXAS. Geode Capital Management LLC boosted its position in shares of Exact Sciences by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after acquiring an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of 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 valued at $169,924,000 after purchasing an additional 245,980 shares during the last quarter. Bellevue Group AG grew its position in shares of Exact Sciences by 25.1% during 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Exact Sciences by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after purchasing an additional 45,015 shares during the last quarter. Finally, Groupama Asset Managment purchased a new stake in shares of Exact Sciences in the third quarter worth about $821,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on EXAS. Sanford C. Bernstein raised their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group cut their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Piper Sandler decreased their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a research note on Monday, January 13th. Finally, Jefferies Financial Group boosted their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus target price of $72.76.

Insider Transactions at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price 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 approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

EXAS stock opened at $54.75 on Wednesday. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of -46.79 and a beta of 1.24. The business’s fifty day simple moving average is $57.75 and its two-hundred day simple moving average is $60.00. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results 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). The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s revenue was up 12.8% on a year-over-year basis. Analysts predict that Exact Sciences Co. will post -1.1 earnings per share for the current 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.