JB Capital LLC Takes Position in Exact Sciences Corporation $EXAS

Key Points

• JB Capital LLC has acquired a new stake in Exact Sciences Corporation, purchasing 21,914 shares valued at approximately $1,165,000 in the 2nd quarter.
• Several large investors, including UBS AM and Price T Rowe Associates, have significantly increased their positions in Exact Sciences, highlighting the interest from institutional investors, who own around 88.82% of the company's stock.
• Exact Sciences reported a quarterly revenue of $811.09 million, exceeding analyst estimates by $36.66 million, and its latest earnings per share (EPS) of $0.22 marked a significant improvement from the previous year.

JB Capital LLC acquired a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,914 shares of the medical research company's stock, valued at approximately $1,165,000.

Several other large investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Exact Sciences by 120.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company's stock worth $135,453,000 after acquiring an additional 1,707,287 shares in the last quarter. Nuveen LLC purchased a new position in shares of Exact Sciences in the first quarter worth approximately $45,334,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Exact Sciences by 11.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock worth $277,225,000 after purchasing an additional 643,631 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Exact Sciences by 3.6% during the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock worth $763,535,000 after purchasing an additional 617,384 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Exact Sciences during the first quarter worth approximately $20,803,000. Institutional investors own 88.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI raised their price target on shares of Exact Sciences from $64.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday. UBS Group decreased their price target on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Exact Sciences in a report on Wednesday. Zacks Research upgraded shares of Exact Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Barclays lifted their target price on shares of Exact Sciences from $55.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.19.

Exact Sciences Trading Up 0.2%

NASDAQ:EXAS opened at $59.46 on Friday. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $72.83. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of -10.95, a P/E/G ratio of 5.48 and a beta of 1.24. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The company's 50 day moving average is $50.47 and its 200-day moving average is $50.41.

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

Insider Transactions at Exact Sciences

In related news, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction of $62,399.70. Following the transaction, the director owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company's stock.

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.

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