Exact Sciences Corporation $EXAS Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Exact Sciences Corporation by 18.1%, owning 51,458 shares valued at approximately $2.73 million as reported in their recent SEC filing.
• A variety of institutional investors have shown interest in Exact Sciences, with notable increases in holdings from companies like GAMMA Investing LLC and Merit Financial Group LLC, which lifted their positions by 4,899.4% and 110% respectively.
• Equities analysts are generally optimistic about Exact Sciences, assigning a consensus rating of "Moderate Buy" and an average target price of $68.52 for the stock.

QRG Capital Management Inc. lifted its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,458 shares of the medical research company's stock after purchasing an additional 7,869 shares during the quarter. QRG Capital Management Inc.'s holdings in Exact Sciences were worth $2,734,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Exact Sciences by 4,899.4% during the 1st quarter. GAMMA Investing LLC now owns 183,679 shares of the medical research company's stock valued at $7,951,000 after acquiring an additional 180,005 shares during the period. Rhumbline Advisers lifted its position in Exact Sciences by 1.8% during the first quarter. Rhumbline Advisers now owns 221,301 shares of the medical research company's stock valued at $9,580,000 after purchasing an additional 3,873 shares during the period. Merit Financial Group LLC lifted its position in Exact Sciences by 110.0% during the first quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after purchasing an additional 4,609 shares during the period. Park Avenue Securities LLC boosted its holdings in Exact Sciences by 6.1% in the first quarter. Park Avenue Securities LLC now owns 25,335 shares of the medical research company's stock valued at $1,097,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in Exact Sciences during the 1st quarter worth about $368,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Insider Buying and Selling

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the transaction, the director directly owned 59,962 shares of the company's stock, valued at $2,519,603.24. This trade represents a 2.42% decrease in their position. 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXAS shares. Craig Hallum boosted their price objective on Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Royal Bank Of Canada reduced their price target on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Zacks Research cut shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. UBS Group decreased their target price on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Barclays increased their price target on shares of Exact Sciences from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of "Moderate Buy" and an average target price of $68.52.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $57.63 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. The firm has a market capitalization of $10.91 billion, a PE ratio of -10.61, a P/E/G ratio of 5.24 and a beta of 1.24. The business's 50 day moving average price is $49.76 and its 200-day moving average price is $50.21.

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