Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Thematics Asset Management

Thematics Asset Management trimmed its stake in Exact Sciences Co. (NASDAQ:EXAS) by 16.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,121 shares of the medical research company’s stock after selling 14,095 shares during the quarter. Thematics Asset Management’s holdings in Exact Sciences were worth $4,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. William Blair Investment Management LLC acquired a new stake in Exact Sciences during the 2nd quarter worth about $163,896,000. Champlain Investment Partners LLC raised its holdings in shares of Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after acquiring an additional 245,980 shares during the period. Armistice Capital LLC lifted its position in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after acquiring an additional 669,438 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Exact Sciences by 19.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company’s stock worth $55,089,000 after purchasing an additional 208,641 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Exact Sciences by 3.6% during the 3rd 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 in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of EXAS stock traded up $5.46 during trading on Tuesday, reaching $60.60. The company had a trading volume of 1,315,658 shares, compared to its average volume of 2,636,848. The company has a market capitalization of $11.22 billion, a PE ratio of -50.69 and a beta of 1.27. 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 firm’s 50 day simple moving average is $64.51 and its two-hundred day simple moving average is $55.85. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now directly 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 disclosure for this purchase can be found here. 1.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research reduced their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Sanford C. Bernstein raised their price objective on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research 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 shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.47.

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.