Generali Investments Towarzystwo Funduszy Inwestycyjnych Has $1.30 Million Stake in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• Generali Investments increased its stake in Exact Sciences Corporation by 25%, acquiring an additional 6,000 shares, bringing their total holdings to 30,000 shares valued at approximately $1.3 million.
• Institutional investors now own 88.82% of Exact Sciences' shares, indicating strong institutional confidence in the company's performance.
• Exact Sciences reported a revenue of $706.79 million for the quarter, exceeding analyst expectations, and reported a smaller-than-expected earnings loss of ($0.21) per share.

Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 25.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,000 shares of the medical research company's stock after buying an additional 6,000 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Exact Sciences were worth $1,299,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in Exact Sciences by 0.3% during the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after buying an additional 270 shares in the last quarter. Allworth Financial LP boosted its position in Exact Sciences by 14.3% during the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock valued at $136,000 after purchasing an additional 373 shares during the last quarter. Integrated Advisors Network LLC grew its position in Exact Sciences by 5.7% in the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after acquiring an additional 379 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of Exact Sciences by 1.7% during the 4th quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock valued at $1,399,000 after acquiring an additional 428 shares during the last quarter. Finally, Bayforest Capital Ltd grew its stake in Exact Sciences by 95.8% in the 1st quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock valued at $40,000 after buying an additional 453 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction that occurred on 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 directly owned 72,759 shares in the company, valued at approximately $3,870,778.80. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of research reports. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Robert W. Baird lifted their target price on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" 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 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 objective on the stock. Finally, Royal Bank Of Canada raised their target price on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and an average target price of $70.50.

Exact Sciences Stock Up 1.5%

EXAS traded up $0.71 during trading on Tuesday, reaching $47.54. 383,182 shares of the stock were exchanged, compared to its average volume of 2,597,493. 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 stock's 50 day moving average price is $52.55 and its two-hundred day moving average price is $50.26. Exact Sciences Corporation has a twelve month low of $39.97 and a twelve month high of $72.83. The stock has a market cap of $8.97 billion, a P/E ratio of -8.63, a price-to-earnings-growth ratio of 10.20 and a beta of 0.93.

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.