Skylands Capital LLC Has $841,000 Stake in Exact Sciences Corporation (NASDAQ:EXAS)

Skylands Capital LLC lifted its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 64.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,425 shares of the medical research company's stock after purchasing an additional 7,625 shares during the quarter. Skylands Capital LLC's holdings in Exact Sciences were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EXAS. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences during the first quarter worth $34,000. Artemis Investment Management LLP boosted its holdings in shares of Exact Sciences by 5.0% during the 1st quarter. Artemis Investment Management LLP now owns 268,600 shares of the medical research company's stock valued at $11,628,000 after acquiring an additional 12,758 shares in the last quarter. Beech Hill Advisors Inc. grew its position in Exact Sciences by 29.0% during the 1st quarter. Beech Hill Advisors Inc. now owns 59,911 shares of the medical research company's stock worth $2,594,000 after acquiring an additional 13,476 shares during the last quarter. Goldstein Advisors LLC increased its holdings in Exact Sciences by 113.8% in the 1st quarter. Goldstein Advisors LLC now owns 12,254 shares of the medical research company's stock worth $530,000 after purchasing an additional 6,523 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Exact Sciences by 298.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 148,629 shares of the medical research company's stock worth $6,434,000 after purchasing an additional 111,343 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the transaction, the director owned 72,759 shares in the company, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

Exact Sciences Trading Down 1.0%

Shares of NASDAQ:EXAS traded down $0.51 during mid-day trading on Monday, hitting $53.14. The company had a trading volume of 2,086,717 shares, compared to its average volume of 2,569,760. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. Exact Sciences Corporation has a one year low of $39.97 and a one year high of $72.83. The firm has a fifty day moving average price of $52.83 and a 200 day moving average price of $51.35. The company has a market capitalization of $10.02 billion, a PE ratio of -9.64, a price-to-earnings-growth ratio of 40.73 and a beta of 0.98.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The business's revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.60) earnings per share. As a group, research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho assumed coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Evercore ISI lifted their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Barclays reduced their target price on shares of Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday, June 24th. Royal Bank Of Canada raised their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.40.

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.