Choreo LLC Has $354,000 Stake in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• Choreo LLC significantly reduced its holdings in Exact Sciences Corporation by 79.1%, leaving them with a total of 8,183 shares valued at $354,000.
• Analysts are generally optimistic about Exact Sciences, with a consensus rating of "Moderate Buy" and an average price target of $70.50, despite some fluctuating price targets from various firms.
• Exact Sciences reported an earnings per share (EPS) of ($0.21), surpassing expectations and showing a revenue increase of 10.9% compared to the previous year.

Choreo LLC decreased its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 79.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,183 shares of the medical research company's stock after selling 30,895 shares during the period. Choreo LLC's holdings in Exact Sciences were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EXAS. OneDigital Investment Advisors LLC grew its stake in shares of Exact Sciences by 0.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock valued at $4,367,000 after purchasing an additional 270 shares during the period. Allworth Financial LP grew its position in Exact Sciences by 14.3% in the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock valued at $136,000 after acquiring an additional 373 shares during the period. Integrated Advisors Network LLC raised its stake in Exact Sciences by 5.7% during the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after acquiring an additional 379 shares in the last quarter. Curi RMB Capital LLC lifted its holdings in shares of Exact Sciences by 1.7% during the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock valued at $1,399,000 after acquiring an additional 428 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Exact Sciences by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 80,216 shares of the medical research company's stock valued at $4,507,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the sale, the director directly owned 72,759 shares in the company, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

EXAS has been the topic of a number of recent analyst reports. Mizuho assumed coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a research report on Friday, April 11th. Robert W. Baird boosted their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Barclays lowered their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada upped their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Exact Sciences Trading Up 1.7%

NASDAQ EXAS traded up $0.81 during trading on Friday, reaching $47.76. 2,486,655 shares of the stock traded hands, compared to its average volume of 2,176,708. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of -8.67, a price-to-earnings-growth ratio of 10.03 and a beta of 0.93. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. The stock's 50-day moving average price is $52.75 and its 200 day moving average price is $50.32.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted 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. The firm had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.60) earnings per share. Analysts predict that Exact Sciences Corporation will post -0.58 EPS 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.