Woodline Partners LP Has $23.28 Million Stock Position in Exact Sciences Corporation $EXAS

Key Points

• Woodline Partners LP increased its holdings in Exact Sciences Corporation by 62.0% during Q1, owning approximately $23.28 million worth of shares after acquiring an additional 205,875 shares.
• Multiple institutional investors have significantly boosted their stakes in Exact Sciences, with Larson Financial Group LLC increasing its investment by an impressive 2,804.8% in the same quarter.
• Exact Sciences recently reported a quarterly earnings beat, with $0.22 EPS for the quarter, exceeding the consensus estimate by $0.24 and reflecting a 16.0% year-over-year revenue growth.

Woodline Partners LP raised its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 62.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,863 shares of the medical research company's stock after purchasing an additional 205,875 shares during the quarter. Woodline Partners LP owned approximately 0.29% of Exact Sciences worth $23,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock valued at $26,000 after purchasing 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 bought a new stake in shares of Exact Sciences during the 1st quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences during the 1st quarter worth about $34,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Exact Sciences during the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS traded down $2.06 during trading hours on Friday, hitting $53.94. 2,321,082 shares of the company's stock were exchanged, compared to its average volume of 2,838,130. 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 current ratio of 2.89 and a quick ratio of 2.56. The stock has a market capitalization of $10.21 billion, a price-to-earnings ratio of -9.93, a PEG ratio of 5.73 and a beta of 1.05. The company's 50-day moving average price is $48.86 and its 200-day moving average price is $49.28.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $811.09 million during the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXAS. BTIG Research decreased their price target on Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Barclays decreased their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group decreased their price target on Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Evercore ISI decreased their price target on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.05.

Insider Buying and Selling

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the company's stock in a transaction that occurred 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 owned 59,962 shares of the company's stock, valued at $2,519,603.24. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

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.