Global Assets Advisory LLC Takes Position in Exact Sciences Corporation (NASDAQ:EXAS)

Global Assets Advisory LLC acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,500 shares of the medical research company's stock, valued at approximately $280,000.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in shares of 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 purchasing an additional 2,315 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Exact Sciences by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock worth $763,000 after purchasing an additional 269 shares during the period. Merit Financial Group LLC grew 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 during the period. AlphaQuest LLC grew its stake in shares of Exact Sciences by 22,825.0% during the fourth 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 period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Exact Sciences by 309.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 72,882 shares of the medical research company's stock worth $3,155,000 after purchasing an additional 55,063 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $51.92 on Thursday. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of -9.42, a price-to-earnings-growth ratio of 38.85 and a beta of 0.98. The stock's 50-day moving average is $52.38 and its 200-day moving average is $51.64. Exact Sciences Corporation has a one year low of $39.97 and a one year high of $72.83. 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 (NASDAQ:EXAS - Get Free Report) last released its 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 business had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. During the same quarter in the prior year, the company posted ($0.60) earnings per share. Exact Sciences's revenue was up 10.9% on a year-over-year basis. Equities analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on EXAS. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Mizuho began coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price objective for the company. Royal Bank Of Canada boosted their target price on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Piper Sandler decreased their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Barclays decreased their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.40.

Insider Buying and Selling

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's 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 sale, the director now owns 72,759 shares in the company, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

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.

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