FORM Wealth Advisors LLC Buys Shares of 7,896 Exact Sciences Corporation (NASDAQ:EXAS)

FORM Wealth Advisors LLC bought a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,896 shares of the medical research company's stock, valued at approximately $342,000.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp raised its position in Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock worth $534,000 after acquiring an additional 2,315 shares during the period. Sanctuary Advisors LLC grew its position in shares of Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock valued at $763,000 after purchasing an additional 269 shares during the period. Merit Financial Group LLC increased its stake in shares of Exact Sciences by 110.0% during the first quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock worth $381,000 after purchasing an additional 4,609 shares in the last quarter. AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after purchasing an additional 913 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Exact Sciences by 309.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 72,882 shares of the medical research company's stock valued at $3,155,000 after buying an additional 55,063 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EXAS shares. Royal Bank Of Canada boosted their price objective on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Mizuho began coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Evercore ISI increased their price target on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Robert W. Baird lifted their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Barclays dropped their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday. Two 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.40.

Exact Sciences Stock Performance

NASDAQ EXAS traded up $1.84 during trading on Friday, reaching $53.65. The company's stock had a trading volume of 9,017,373 shares, compared to its average volume of 2,577,911. The business's fifty day moving average price is $52.59 and its 200-day moving average price is $51.57. Exact Sciences Corporation has a twelve month low of $39.97 and a twelve month high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of -9.74, a P/E/G ratio of 39.42 and a beta of 0.98.

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

Insider Transactions at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the transaction, the director now directly owns 72,759 shares in the company, valued at $3,870,778.80. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Exact Sciences 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.