Cwm LLC Acquires 20,662 Shares of Exact Sciences Corporation $EXAS

Key Points

• Cwm LLC has significantly increased its stake in Exact Sciences Corporation, acquiring an additional 20,662 shares, resulting in a total holding of 41,978 shares valued at approximately $2.23 million.
• In the second quarter, multiple institutional investors such as Vanguard and Aberdeen Group also raised their holdings in Exact Sciences, indicating strong interest in the company among major shareholders.
• Analysts have varied price targets for Exact Sciences, with Craig Hallum raising the target from $65.00 to $85.00 while a consensus rating remains a "Moderate Buy" with a target price of $69.19.

Cwm LLC lifted its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 96.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,978 shares of the medical research company's stock after acquiring an additional 20,662 shares during the quarter. Cwm LLC's holdings in Exact Sciences were worth $2,231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Exact Sciences by 22.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,796 shares of the medical research company's stock valued at $839,000 after acquiring an additional 2,853 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Exact Sciences by 15.6% during the second quarter. Aberdeen Group plc now owns 199,471 shares of the medical research company's stock valued at $10,600,000 after acquiring an additional 26,906 shares in the last quarter. JB Capital LLC bought a new position in shares of Exact Sciences during the second quarter valued at approximately $1,165,000. IFP Advisors Inc raised its holdings in shares of Exact Sciences by 6.5% during the second quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company's stock valued at $237,000 after acquiring an additional 273 shares in the last quarter. Finally, Gagnon Securities LLC raised its holdings in shares of Exact Sciences by 3.0% during the second quarter. Gagnon Securities LLC now owns 278,789 shares of the medical research company's stock valued at $14,815,000 after acquiring an additional 8,125 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Insider Activity at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the sale, the director directly owned 57,962 shares of the company's stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EXAS. Craig Hallum upped their target price on Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, September 11th. BTIG Research reduced their price target on Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Zacks Research raised Exact Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Cowen reaffirmed a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Finally, Wells Fargo & Company set a $68.00 price target on Exact Sciences in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.19.

Exact Sciences Price Performance

Shares of EXAS stock opened at $61.23 on Friday. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of -11.28, a PEG ratio of 5.65 and a beta of 1.24. The business's fifty day moving average is $52.24 and its 200 day moving average is $51.12. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94.

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

Exact Sciences 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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