Global Assets Advisory LLC Purchases Shares of 6,500 Exact Sciences Corporation (NASDAQ:EXAS)

Global Assets Advisory LLC purchased a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,500 shares of the medical research company's stock, valued at approximately $280,000.

Several other hedge funds have also recently modified their holdings of the stock. FORM Wealth Advisors LLC acquired a new position in shares of Exact Sciences during the 1st quarter worth about $342,000. Asset Management One Co. Ltd. raised its holdings in Exact Sciences by 4.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 68,500 shares of the medical research company's stock valued at $2,965,000 after acquiring an additional 2,949 shares during the last quarter. Walkner Condon Financial Advisors LLC raised its holdings in Exact Sciences by 10.7% in the 1st quarter. Walkner Condon Financial Advisors LLC now owns 9,430 shares of the medical research company's stock valued at $418,000 after acquiring an additional 913 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings 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 acquiring an additional 55,063 shares during the last quarter. Finally, Chicago Capital LLC raised its holdings in Exact Sciences by 38.6% in the 1st quarter. Chicago Capital LLC now owns 13,968 shares of the medical research company's stock valued at $605,000 after acquiring an additional 3,888 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Trading Up 3.6%

Exact Sciences stock traded up $1.84 during trading on Friday, hitting $53.65. The company had a trading volume of 9,017,373 shares, compared to its average volume of 2,571,371. Exact Sciences Corporation has a 1-year low of $39.97 and a 1-year high of $72.83. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The company's 50 day simple moving average is $52.83 and its 200-day simple moving average is $51.35. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of -9.74, 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 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. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The firm had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same quarter last year, the firm earned ($0.60) EPS. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Barclays cut their price objective on shares of Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, June 24th. Evercore ISI increased their price objective on shares of Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Royal Bank Of Canada increased their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Finally, Guggenheim reiterated a "buy" rating and issued a $60.00 price objective 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.