Exact Sciences Corporation (NASDAQ:EXAS) Shares Bought by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC increased its stake in Exact Sciences Corporation by 39.2%, owning 31,742 shares worth approximately $1.37 million.
• Institutional investors control 88.82% of Exact Sciences' stock, with significant increases in holdings from firms like Price T. Rowe Associates and Mackenzie Financial Corp during the last quarter.
• Analysts have mixed ratings for EXAS, with price targets ranging from $54.00 to $72.00 and an average consensus target price of $70.50, indicating a "Moderate Buy" rating.

Private Advisor Group LLC raised its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 39.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,742 shares of the medical research company's stock after purchasing an additional 8,946 shares during the period. Private Advisor Group LLC's holdings in Exact Sciences were worth $1,374,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in EXAS. Price T Rowe Associates Inc. MD raised its position in shares of Exact Sciences by 74.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after acquiring an additional 2,462,165 shares in the last quarter. Capital World Investors raised its position in shares of Exact Sciences by 10.7% during the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after acquiring an additional 1,696,321 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Exact Sciences by 107.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after acquiring an additional 1,513,873 shares in the last quarter. Norges Bank acquired a new stake in shares of Exact Sciences during the 4th quarter valued at approximately $50,625,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Exact Sciences by 25.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock valued at $239,922,000 after acquiring an additional 876,985 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EXAS shares. Barclays dropped their price target on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Evercore ISI upped their price target on Exact Sciences from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho initiated coverage on Exact Sciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Finally, Robert W. Baird upped their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Exact Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $70.50.

Exact Sciences Trading Down 0.6%

NASDAQ:EXAS opened at $48.49 on Friday. Exact Sciences Corporation has a 1 year low of $39.97 and a 1 year high of $72.83. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -8.80, a PEG ratio of 10.35 and a beta of 0.95. The business has a fifty day moving average of $53.71 and a 200-day moving average of $50.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73.

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

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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