Zevenbergen Capital Investments LLC Sells 149,781 Shares of Exact Sciences Corporation $EXAS

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

Several other large investors have also recently bought and sold shares of EXAS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Exact Sciences by 120.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company's stock valued at $135,453,000 after buying an additional 1,707,287 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Exact Sciences by 107.7% in the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock worth $164,037,000 after purchasing an additional 1,513,873 shares during the last quarter. Nuveen LLC bought a new stake in shares of Exact Sciences in the 1st quarter worth about $45,334,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock worth $277,225,000 after purchasing an additional 643,631 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Exact Sciences by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock worth $763,535,000 after purchasing an additional 617,384 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Down 1.1%

Shares of NASDAQ EXAS traded down $0.59 during midday trading on Friday, reaching $53.00. The company's stock had a trading volume of 844,079 shares, compared to its average volume of 2,785,088. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of -9.76, a PEG ratio of 4.84 and a beta of 1.05. The stock has a 50 day simple moving average of $48.82 and a 200-day simple moving average of $49.43.

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

Insider Buying and Selling at Exact Sciences

In related news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EXAS shares. BTIG Research lowered their target price on shares of 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 target price on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Zacks Research lowered shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Royal Bank Of Canada decreased their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Finally, Barclays decreased their price objective on shares of 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 issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of "Moderate Buy" and an average target price 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.