10,921 Shares in Exact Sciences Corporation $EXAS Purchased by 111 Capital

Key Points

• 111 Capital has purchased 10,921 shares of Exact Sciences Corporation valued at approximately $580,000, marking a new investment in the medical research company during the second quarter.
• Exact Sciences reported an EPS of $0.22 for the last quarter, exceeding analysts' expectations, alongside a revenue of $811.09 million, which also surpassed estimates.
• The company’s stock has seen varied analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $68.52, indicating positive market sentiment despite its recent performance fluctuations.

111 Capital purchased a new position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,921 shares of the medical research company's stock, valued at approximately $580,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Exact Sciences by 2,804.8% during the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock valued at $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service lifted its holdings in Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new stake in Exact Sciences during the first quarter valued at about $30,000. Banque Cantonale Vaudoise purchased a new stake in Exact Sciences during the first quarter valued at about $34,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Exact Sciences during the first quarter valued at about $34,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 0.9%

EXAS stock opened at $56.72 on Monday. The company has a market capitalization of $10.74 billion, a PE ratio of -10.45, a price-to-earnings-growth ratio of 5.24 and a beta of 1.24. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.83. The company's 50 day moving average price is $49.57 and its two-hundred day moving average price is $50.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.24. The firm had revenue of $811.09 million for the quarter, compared to the consensus estimate of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business's revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. As a group, analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the transaction, the director owned 59,962 shares in the company, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the topic of several recent research reports. Craig Hallum upped their price objective on shares of Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Royal Bank Of Canada dropped their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. BTIG Research lowered their price target on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Zacks Research downgraded shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Finally, Cowen reissued a "buy" rating on shares of Exact Sciences in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and an average price target of $68.52.

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.

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