Victory Capital Management Inc. Decreases Stock Holdings in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• Victory Capital Management Inc. reduced its stake in Exact Sciences Corporation by 46.6%, now holding 22,072 shares valued at approximately $955,000.
• In recent trading, Exact Sciences stock opened at $46.95, with a one-year high of $72.83 and a low of $39.97, indicating fluctuating market performance.
• Equities analysts have increased their target prices for Exact Sciences, with Royal Bank Of Canada raising it from $52.00 to $54.00 and Robert W. Baird lifting it to $72.00, reflecting positive market sentiment.

Victory Capital Management Inc. trimmed its holdings in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 46.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 22,072 shares of the medical research company's stock after selling 19,248 shares during the quarter. Victory Capital Management Inc.'s holdings in Exact Sciences were worth $955,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in Exact Sciences by 0.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after purchasing an additional 270 shares in the last quarter. Allworth Financial LP lifted its holdings in Exact Sciences by 14.3% in the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock worth $136,000 after purchasing an additional 373 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Exact Sciences by 5.7% in the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after purchasing an additional 379 shares in the last quarter. Curi RMB Capital LLC lifted its holdings in Exact Sciences by 1.7% in the 4th quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock worth $1,399,000 after purchasing an additional 428 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Exact Sciences by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 80,216 shares of the medical research company's stock worth $4,507,000 after purchasing an additional 500 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Up 1.8%

Shares of EXAS traded up $0.85 during midday trading on Tuesday, reaching $47.68. 1,025,584 shares of the stock were exchanged, compared to its average volume of 2,602,003. Exact Sciences Corporation has a 52 week low of $39.97 and a 52 week high of $72.83. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The company's 50 day moving average is $52.55 and its two-hundred day moving average is $50.26. The company has a market capitalization of $8.99 billion, a P/E ratio of -8.65, a PEG ratio of 10.20 and a beta of 0.93.

Analyst Upgrades and Downgrades

EXAS has been the topic of a number of research analyst reports. Mizuho initiated coverage on Exact Sciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Barclays decreased their price objective on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday, June 24th. Evercore ISI upped their price objective on Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their price objective on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Finally, Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Insider Activity

In other news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the transaction, the director owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company's stock.

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.