Exact Sciences Corporation (NASDAQ:EXAS) Shares Bought by Cerity Partners LLC

Cerity Partners LLC boosted its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 24.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,598 shares of the medical research company's stock after acquiring an additional 6,508 shares during the period. Cerity Partners LLC's holdings in Exact Sciences were worth $1,454,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Exact Sciences in the 1st quarter worth about $34,000. Teacher Retirement System of Texas acquired a new stake in shares of Exact Sciences in the first quarter worth $1,171,000. GAMMA Investing LLC raised its stake in shares of Exact Sciences by 15.5% in the 1st quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after acquiring an additional 569 shares during the period. Merit Financial Group LLC raised its stake in shares of Exact Sciences by 110.0% in the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after acquiring an additional 4,609 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Exact Sciences by 309.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 72,882 shares of the medical research company's stock worth $3,155,000 after purchasing an additional 55,063 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS traded up $0.17 during mid-day trading on Thursday, hitting $48.58. The company had a trading volume of 1,466,055 shares, compared to its average volume of 2,617,624. Exact Sciences Corporation has a 12 month low of $39.97 and a 12 month high of $72.83. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of -8.82, a PEG ratio of 10.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. The firm's 50 day simple moving average is $54.15 and its two-hundred day simple moving average is $50.77.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The firm had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. During the same period last year, the company earned ($0.60) earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of Exact Sciences from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho assumed coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Royal Bank Of Canada upped their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Finally, Robert W. Baird raised their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and an average target price of $70.50.

Insiders Place Their Bets

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares in the company, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

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.