Thematics Asset Management Decreases Holdings in Exact Sciences Corporation $EXAS

Key Points

• Thematics Asset Management reduced its holdings in Exact Sciences Corporation by 33.3%, owning 58,406 shares after selling 29,166 shares in the first quarter, which were valued at $2,528,000.
• Other institutional investors have notably increased their stakes in Exact Sciences, with Larson Financial Group lifting its stake by 2,804.8% during the same period.
• Exact Sciences reported earnings of $0.22 per share for the quarter, surpassing estimates and showing a 16.0% year-over-year revenue growth.

Thematics Asset Management lowered its stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 33.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,406 shares of the medical research company's stock after selling 29,166 shares during the quarter. Thematics Asset Management's holdings in Exact Sciences were worth $2,528,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock valued at $26,000 after buying an additional 589 shares in the last quarter. National Pension Service raised its holdings in Exact Sciences by 75.1% in the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences in the 1st quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences in the 1st quarter valued at $34,000. Finally, Banque Cantonale Vaudoise acquired a new position in Exact Sciences in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BTIG Research cut their price target on Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Wall Street Zen upgraded Exact Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barclays dropped their price objective on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Royal Bank Of Canada dropped their price objective on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Finally, Robert W. Baird upped their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.43.

Insider Activity

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. Also, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Exact Sciences Stock Up 1.7%

Shares of NASDAQ EXAS opened at $47.47 on Monday. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $72.83. The company has a market cap of $8.99 billion, a P/E ratio of -8.74, a P/E/G ratio of 4.85 and a beta of 0.93. 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 stock has a fifty day moving average price of $49.57 and a 200 day moving average price of $49.27.

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

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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