273,936 Shares in Exact Sciences Corporation $EXAS Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC invested approximately $15.32 million in Exact Sciences by acquiring 273,936 shares in the second quarter, representing about 0.15% of the company's stock.
• Exact Sciences reported a 16% year-over-year increase in revenue, reaching $811.09 million, while also beating consensus earnings estimates with an EPS of $0.22.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Exact Sciences, with price targets ranging from $53 to $85, reflecting varied outlooks on the company's growth prospects.

Kingstone Capital Partners Texas LLC purchased a new stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 273,936 shares of the medical research company's stock, valued at approximately $15,318,000. Kingstone Capital Partners Texas LLC owned about 0.15% of Exact Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank Pictet & Cie Europe AG grew its position in Exact Sciences by 1.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock worth $7,250,000 after acquiring an additional 1,547 shares during the period. Quantinno Capital Management LP boosted its position in shares of Exact Sciences by 205.4% during the fourth quarter. Quantinno Capital Management LP now owns 9,991 shares of the medical research company's stock worth $561,000 after buying an additional 6,720 shares during the period. Vident Advisory LLC raised its stake in shares of Exact Sciences by 22.4% in the fourth quarter. Vident Advisory LLC now owns 22,447 shares of the medical research company's stock valued at $1,261,000 after acquiring an additional 4,110 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Exact Sciences by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,421,671 shares of the medical research company's stock valued at $79,884,000 after acquiring an additional 81,774 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after acquiring an additional 1,513,873 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Analysts Set New Price Targets

EXAS has been the topic of a number of analyst reports. Evercore ISI cut their price target on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Craig Hallum lifted their target price on Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Barclays cut their target price on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Piper Sandler dropped their price target on Exact Sciences from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. Finally, UBS Group lowered their price objective on Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and an average target price of $68.05.

Insider Buying and Selling at Exact Sciences

In other news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the sale, the director directly owned 59,962 shares in the company, valued at $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Exact Sciences Trading Down 1.6%

Shares of EXAS traded down $0.84 during trading hours on Tuesday, hitting $52.72. The stock had a trading volume of 1,177,958 shares, compared to its average volume of 2,785,105. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The firm has a market cap of $9.98 billion, a P/E ratio of -9.72, a P/E/G ratio of 4.92 and a beta of 1.05. The company's fifty day simple moving average is $48.83 and its 200 day simple moving average is $49.54. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $72.83.

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

Exact Sciences Company 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.