Envestnet Portfolio Solutions Inc. Purchases 55,063 Shares of Exact Sciences Corporation (NASDAQ:EXAS)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 309.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,882 shares of the medical research company's stock after buying an additional 55,063 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Exact Sciences were worth $3,155,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EXAS. Point72 Asia Singapore Pte. Ltd. bought a new position in Exact Sciences in the fourth quarter worth approximately $45,000. AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after acquiring an additional 913 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Exact Sciences during the 4th quarter worth $66,000. Ostrum Asset Management boosted its position in 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 purchasing an additional 527 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Exact Sciences during the fourth quarter valued at about $149,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXAS. Barclays lifted their price objective on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada upped their price target on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Piper Sandler decreased their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Robert W. Baird boosted their target price on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Evercore ISI increased their price target on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Two investment 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.90.

Insider Buying and Selling

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the 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 transaction, the director now directly owns 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Exact Sciences Stock Up 1.3%

Exact Sciences stock opened at $53.02 on Monday. The business's 50-day moving average price is $51.87 and its 200 day moving average price is $51.71. 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 firm has a market cap of $10.00 billion, a price-to-earnings ratio of -9.62, a price-to-earnings-growth ratio of 40.25 and a beta of 0.98. Exact Sciences Corporation has a 52 week low of $39.97 and a 52 week high of $72.83.

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

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