Krilogy Financial LLC Lowers Stock Position in Exact Sciences Corporation $EXAS

Key Points

• Krilogy Financial LLC reduced its holdings in Exact Sciences Corporation by 16.0% in the second quarter, selling 8,147 shares, bringing its total to 42,716 shares valued at $2,270,000.
• Institutional investors continue to heavily invest in the company, with 88.82% of Exact Sciences' stock owned by hedge funds and other institutional investors.
• Exact Sciences reported earnings of $0.22 per share for the last quarter, exceeding analyst estimates, and experienced a 16.0% year-over-year revenue increase to $811.09 million.

Krilogy Financial LLC lessened its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 16.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,716 shares of the medical research company's stock after selling 8,147 shares during the quarter. Krilogy Financial LLC's holdings in Exact Sciences were worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EXAS. Larson Financial Group LLC boosted its stake in shares of Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after acquiring an additional 589 shares in the last quarter. National Pension Service boosted its stake in shares of 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 acquiring an additional 292 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Exact Sciences during the 1st quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Exact Sciences during the 1st quarter worth approximately $34,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Exact Sciences during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXAS shares. Wall Street Zen raised Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Craig Hallum boosted their price target on Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Barclays decreased their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada decreased their price target on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, Cowen reissued a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.05.

Exact Sciences Price Performance

EXAS stock opened at $53.43 on Tuesday. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. 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 stock's 50 day moving average price is $48.88 and its 200 day moving average price is $49.34. The firm has a market cap of $10.12 billion, a P/E ratio of -9.84, a PEG ratio of 4.98 and a beta of 1.05.

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 for the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.Exact Sciences's revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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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