Exact Sciences Corporation $EXAS Shares Sold by Curi RMB Capital LLC

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 decreased its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 43.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other large investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in Exact Sciences by 0.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after buying an additional 270 shares during the last quarter. National Pension Service raised its holdings in shares of Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after purchasing an additional 292 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Exact Sciences by 14.3% during the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock worth $136,000 after purchasing an additional 373 shares during the last quarter. Integrated Advisors Network LLC lifted its position in Exact Sciences by 5.7% during the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock valued at $305,000 after purchasing an additional 379 shares during the period. Finally, Bayforest Capital Ltd boosted its holdings in Exact Sciences by 95.8% in the first quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock valued at $40,000 after purchasing an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Price Performance

Shares of EXAS stock traded down $2.06 during trading hours on Friday, hitting $53.94. 2,321,082 shares of the company's stock were exchanged, compared to its average volume of 2,838,130. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83. The firm has a market cap of $10.21 billion, a P/E ratio of -9.93, a P/E/G ratio of 5.73 and a beta of 1.05. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $48.86 and a two-hundred day moving average of $49.28.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. The firm had revenue of $811.09 million for the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. Sell-side analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Activity at Exact Sciences

In related news, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction 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 represents a 2.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on EXAS. Zacks Research lowered Exact Sciences from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. 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. Barclays decreased their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Piper Sandler dropped their price objective on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Finally, BTIG Research decreased their target price on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.05.

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.