Exact Sciences Corporation $EXAS Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC reduced its stake in Exact Sciences Corporation by 10.2%, owning approximately 1.07% of the company after selling 228,868 shares.
• Exact Sciences recently reported $811.09 million in revenue for the quarter, exceeding analysts' expectations and marking a 16.0% year-over-year increase.
• Wall Street analysts have given Exact Sciences a consensus price target of $69.19, with ratings ranging from Strong Buy to Sell.

William Blair Investment Management LLC trimmed its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 10.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,020,170 shares of the medical research company's stock after selling 228,868 shares during the quarter. William Blair Investment Management LLC owned approximately 1.07% of Exact Sciences worth $107,352,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service lifted its stake in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after buying an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences during the first quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences during the first quarter worth about $34,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Exact Sciences during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Down 0.1%

EXAS opened at $61.23 on Friday. The stock has a market capitalization of $11.59 billion, a PE ratio of -11.28, a P/E/G ratio of 5.66 and a beta of 1.24. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The business's 50 day moving average price is $52.24 and its 200 day moving average price is $51.07.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS 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 company had revenue of $811.09 million for the quarter, compared to the consensus estimate of $774.43 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The company's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EXAS shares. Piper Sandler raised their target price on shares of Exact Sciences from $60.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Exact Sciences in a report on Wednesday, October 8th. Barclays lifted their price objective on Exact Sciences from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. BTIG Research dropped their target price on Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Wells Fargo & Company set a $68.00 target price on Exact Sciences in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $69.19.

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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