Exact Sciences Corporation (NASDAQ:EXAS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,353 shares of the medical research company's stock after selling 8,891 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Exact Sciences worth $10,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EXAS. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences during the first quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Exact Sciences during the fourth quarter valued at $45,000. Ostrum Asset Management increased its stake in shares of Exact Sciences by 28.4% during the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock valued at $134,000 after buying an additional 527 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Exact Sciences during the fourth quarter valued at $149,000. Finally, GAMMA Investing LLC increased its stake in shares of Exact Sciences by 15.5% during the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after buying an additional 569 shares during the period. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Up 0.7%

Shares of EXAS stock traded up $0.36 during trading hours on Thursday, reaching $48.77. 2,457,688 shares of the company's stock were exchanged, compared to its average volume of 2,546,825. Exact Sciences Corporation has a 1 year low of $39.97 and a 1 year high of $72.83. The stock has a market cap of $9.20 billion, a PE ratio of -8.85, a PEG ratio of 10.34 and a beta of 0.95. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The stock's fifty day moving average price is $53.87 and its two-hundred day moving average price is $50.69.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. During the same quarter in the previous year, the firm earned ($0.60) earnings per share. The company's revenue was up 10.9% on a year-over-year basis. Research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the sale, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

EXAS has been the topic of several research reports. Royal Bank Of Canada raised their price target on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Evercore ISI raised their price target on Exact Sciences from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Mizuho initiated coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Finally, Robert W. Baird raised their price target on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $70.50.

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.