Curi RMB Capital LLC Has $606,000 Holdings in Exact Sciences Corporation $EXAS

Key Points

• Curi RMB Capital LLC reduced its stake in Exact Sciences Corporation by 43.8%, selling 10,902 shares and leaving them with 13,994 shares valued at $606,000.
• Other hedge funds showed contrasting trends, with Larson Financial Group increasing its holdings by an impressive 2,804.8%, while several institutions purchased new positions in the company.
• Exact Sciences reported quarterly earnings surpassing analyst expectations, with a profit of $0.22 per share and revenue of $811.09 million, representing a 16.0% increase year-over-year.

Curi RMB Capital LLC reduced its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 43.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,994 shares of the medical research company's stock after selling 10,902 shares during the quarter. Curi RMB Capital LLC's holdings in Exact Sciences were worth $606,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Exact Sciences during the first quarter worth $34,000. Cerity Partners LLC increased its position in Exact Sciences by 24.0% in the first quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company's stock worth $1,454,000 after buying an additional 6,508 shares during the period. Teacher Retirement System of Texas acquired a new stake in Exact Sciences in the first quarter worth $1,171,000. GAMMA Investing LLC increased its position in Exact Sciences by 15.5% in 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 during the period. Finally, Merit Financial Group LLC increased its position in Exact Sciences by 110.0% in the first quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock worth $381,000 after buying an additional 4,609 shares during the period. 88.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director James Edward Doyle sold 1,485 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the transaction, the director owned 59,962 shares in the company, 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 can be accessed through the SEC website. Also, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following 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 disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

EXAS has been the topic of a number of research analyst reports. Craig Hallum raised their price target on Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a report on Thursday. Zacks Research lowered Exact Sciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. BTIG Research lowered their price target on Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Evercore ISI lowered their price target on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Barclays lowered their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.05.

Exact Sciences Trading Up 2.2%

Shares of NASDAQ:EXAS traded up $1.20 during midday trading on Thursday, reaching $55.97. The company had a trading volume of 1,502,144 shares, compared to its average volume of 2,804,783. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of -10.31, a price-to-earnings-growth ratio of 5.67 and a beta of 1.05. The company has a fifty day simple moving average of $48.78 and a two-hundred day simple moving average of $49.22.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results 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. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The business had revenue of $811.09 million during the quarter, compared to analyst estimates of $774.43 million. During the same quarter last year, the company posted ($0.09) EPS. Exact Sciences's revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current 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.