Scientech Research LLC Makes New $915,000 Investment in Exact Sciences Corporation $EXAS

Scientech Research 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 filing with the SEC. The fund purchased 21,144 shares of the medical research company's stock, valued at approximately $915,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Exact Sciences by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock worth $763,535,000 after buying an additional 617,384 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Exact Sciences by 11.2% during the 1st 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 buying an additional 643,631 shares during the period. Mackenzie Financial Corp grew its position in shares of Exact Sciences by 12.4% during the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company's stock worth $142,062,000 after buying an additional 362,314 shares during the period. Armistice Capital LLC grew its position in shares of Exact Sciences by 9.6% during the 1st quarter. Armistice Capital LLC now owns 1,772,369 shares of the medical research company's stock worth $76,726,000 after buying an additional 155,369 shares during the period. Finally, Spyglass Capital Management LLC grew its position in shares of Exact Sciences by 10.2% during the 4th quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company's stock worth $86,501,000 after buying an additional 142,343 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Stock Down 3.7%

EXAS traded down $2.06 during trading on Friday, reaching $53.94. The company had a trading volume of 2,321,082 shares, compared to its average volume of 2,838,130. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $72.83. The business's fifty day moving average price is $48.86 and its 200 day moving average price is $49.29. The company has a market cap of $10.21 billion, a P/E ratio of -9.93, a PEG ratio of 5.73 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share 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 firm had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The business's revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Activity

In other news, Director James Edward Doyle sold 1,485 shares of Exact Sciences 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several analyst reports. Barclays lowered their price target on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Royal Bank Of Canada reduced their price objective on shares of 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. BTIG Research reduced their price objective 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. Cowen reissued a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research 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. According to MarketBeat, Exact Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.05.

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.