Exact Sciences Corporation $EXAS Stock Position Raised by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Exact Sciences Corporation by 67.8%, acquiring an additional 18,292 shares, bringing its total holdings to $1,960,000.
• Multiple hedge funds, including Larson Financial Group and National Pension Service, have significantly increased their investments in Exact Sciences during the first quarter, indicating strong institutional interest.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Exact Sciences, with an average price target of $67.05, despite some firms adjusting their price forecasts downward.

Ieq Capital LLC grew its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 67.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,285 shares of the medical research company's stock after purchasing an additional 18,292 shares during the quarter. Ieq Capital LLC's holdings in Exact Sciences were worth $1,960,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its stake in Exact Sciences by 0.3% during the 1st 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 during the period. National Pension Service increased its stake in Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after buying an additional 292 shares during the period. Allworth Financial LP increased its stake in Exact Sciences by 14.3% during the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock worth $136,000 after buying an additional 373 shares during the period. Integrated Advisors Network LLC increased its stake in Exact Sciences by 5.7% during the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after buying an additional 379 shares during the period. Finally, Bayforest Capital Ltd increased its stake in Exact Sciences by 95.8% during the 1st quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company's stock worth $40,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Insider Buying and Selling

In other news, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the sale, the director directly owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $170,612.40. Following the completion of the sale, the director directly owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the topic of several analyst reports. BTIG Research dropped their price target on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Piper Sandler dropped their price target on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Evercore ISI dropped their price target on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. UBS Group dropped their target price on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their target price on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and a consensus target price of $67.05.

Exact Sciences Stock Performance

Exact Sciences stock traded up $2.14 during midday trading on Thursday, reaching $51.41. 6,815,768 shares of the stock traded hands, compared to its average volume of 2,802,402. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average price of $48.73 and a two-hundred day moving average price of $49.08. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of -9.47, a PEG ratio of 4.85 and a beta of 1.05. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. The firm had revenue of $811.09 million during the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. Exact Sciences's revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. On average, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

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.