Exact Sciences Corporation $EXAS Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in Exact Sciences Corporation by 15.6%, now owning approximately 199,471 shares valued at about $10.6 million.
• Exact Sciences received a mix of ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $69.19.
• Director James Edward Doyle sold 2,000 shares at an average price of $60, representing a 3.34% decrease in his holdings.

Aberdeen Group plc lifted its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 15.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,471 shares of the medical research company's stock after acquiring an additional 26,906 shares during the quarter. Aberdeen Group plc owned about 0.11% of Exact Sciences worth $10,600,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Exact Sciences by 15.5% during the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock worth $184,000 after buying an additional 569 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Exact Sciences by 1.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 39,690 shares of the medical research company's stock worth $1,718,000 after buying an additional 555 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Exact Sciences by 32.3% during the first quarter. Exchange Traded Concepts LLC now owns 15,442 shares of the medical research company's stock worth $668,000 after buying an additional 3,773 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Exact Sciences by 2.7% during the first quarter. QRG Capital Management Inc. now owns 43,589 shares of the medical research company's stock worth $1,887,000 after buying an additional 1,128 shares in the last quarter. Finally, Chicago Capital LLC boosted its holdings in Exact Sciences by 38.6% during the first quarter. Chicago Capital LLC now owns 13,968 shares of the medical research company's stock worth $605,000 after buying an additional 3,888 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EXAS. UBS Group reduced their target price on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. BTIG Research reduced their target price on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Craig Hallum raised their price objective on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Finally, Cowen reaffirmed a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Insider Activity

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director owned 57,962 shares of the company's stock, valued at $3,477,720. This trade represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Exact Sciences Trading Up 0.0%

Shares of NASDAQ:EXAS opened at $60.58 on Thursday. The firm has a fifty day moving average of $51.47 and a two-hundred day moving average of $50.82. The firm has a market capitalization of $11.47 billion, a P/E ratio of -11.16, a price-to-earnings-growth ratio of 5.59 and a beta of 1.24. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $72.83. 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 issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. The company had revenue of $811.09 million during the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, equities analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Exact Sciences Company 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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