Exact Sciences Corporation $EXAS Shares Sold by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in Exact Sciences Corporation by 12.8%, selling 149,781 shares, bringing its total holdings to 1,018,183 shares.
• Exact Sciences reported a quarterly EPS of $0.22, exceeding the estimate of ($0.02), with revenues of $811.09 million, a 16% year-over-year increase.
• Share price analysts have mixed ratings, with one upgrade to "buy" and a consensus average price target of $68.05, reflecting varied outlooks on the company's stock potential.

Zevenbergen Capital Investments LLC decreased its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,018,183 shares of the medical research company's stock after selling 149,781 shares during the quarter. Exact Sciences accounts for about 1.1% of Zevenbergen Capital Investments LLC's holdings, making the stock its 29th biggest holding. Zevenbergen Capital Investments LLC owned about 0.54% of Exact Sciences worth $54,106,000 as of its most recent SEC filing.

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

Exact Sciences Stock Performance

Shares of EXAS opened at $53.94 on Friday. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $72.83. The stock has a 50 day moving average price of $48.86 and a two-hundred day moving average price of $49.29. The firm has a market capitalization 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 debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

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

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the sale, the director directly owned 59,962 shares in the company, valued at $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler dropped their price objective on Exact Sciences from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, August 11th. BTIG Research reduced their price objective on Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Evercore ISI cut their price objective on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Zacks Research lowered Exact Sciences from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. One equities 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. According to MarketBeat.com, Exact Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $68.05.

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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