Archford Capital Strategies LLC Acquires New Holdings in Exact Sciences Corporation $EXAS

Key Points

• Archford Capital Strategies LLC has acquired a new stake in Exact Sciences Corporation, purchasing 6,047 shares valued at approximately $321,000 in the second quarter.
• Institutional investors now hold 88.82% of Exact Sciences' stock, with significant recent increases in holdings from several firms, including a 4,899.4% increase by GAMMA Investing LLC.
• Exact Sciences recently reported quarterly earnings with an EPS of $0.22, exceeding expectations, and a revenue of $811.09 million, which is a 16.0% increase compared to the previous year.

Archford Capital Strategies LLC acquired a new stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,047 shares of the medical research company's stock, valued at approximately $321,000.

A number of other large investors have also added to or reduced their stakes in EXAS. Wealth Enhancement Advisory Services LLC raised its holdings in Exact Sciences by 9.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,135 shares of the medical research company's stock valued at $2,199,000 after buying an additional 3,434 shares during the last quarter. GAMMA Investing LLC increased its position in Exact Sciences by 4,899.4% during the 1st quarter. GAMMA Investing LLC now owns 183,679 shares of the medical research company's stock valued at $7,951,000 after purchasing an additional 180,005 shares during the period. Rhumbline Advisers increased its position in Exact Sciences by 1.8% during the 1st quarter. Rhumbline Advisers now owns 221,301 shares of the medical research company's stock valued at $9,580,000 after purchasing an additional 3,873 shares during the period. Merit Financial Group LLC increased its position in Exact Sciences by 110.0% during the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after purchasing an additional 4,609 shares during the period. Finally, Park Avenue Securities LLC increased its position in Exact Sciences by 6.1% during the 1st quarter. Park Avenue Securities LLC now owns 25,335 shares of the medical research company's stock valued at $1,097,000 after purchasing an additional 1,449 shares during the period. Institutional investors own 88.82% of the company's stock.

Insider Activity at Exact Sciences

In related news, Director James Edward Doyle sold 1,485 shares of Exact Sciences stock in a transaction 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 completion of the sale, the director owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $53.38 on Tuesday. The company has a market cap of $10.11 billion, a price-to-earnings ratio of -9.83, a price-to-earnings-growth ratio of 4.95 and a beta of 1.05. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $72.83. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $49.00 and a 200-day moving average of $49.82.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $811.09 million during 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 company's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. On average, equities analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXAS shares. Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler decreased their target price on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, August 11th. Zacks Research downgraded shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Craig Hallum increased their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Finally, Evercore ISI decreased their target price on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.05.

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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