Woodline Partners LP Increases Stock Holdings 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 boosted its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 62.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

A number of other institutional investors have also added to or reduced their stakes in the company. Great Lakes Advisors LLC raised its holdings in Exact Sciences by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company's stock worth $215,000 after purchasing an additional 178 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Exact Sciences by 0.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company's stock valued at $971,000 after buying an additional 187 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Exact Sciences by 0.3% during the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock valued at $4,367,000 after buying an additional 270 shares during the last quarter. National Pension Service boosted its position in shares of Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after buying an additional 292 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Exact Sciences by 14.3% during the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company's stock valued at $136,000 after buying an additional 373 shares during the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Price Performance

EXAS traded down $0.21 on Monday, hitting $53.73. 940,331 shares of the company's stock traded hands, compared to its average volume of 2,797,121. The company's 50 day simple moving average is $48.86 and its 200-day simple moving average is $49.30. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of -9.91, a P/E/G ratio of 4.98 and a beta of 1.05. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.83. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.24. The company had revenue of $811.09 million for 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 firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) EPS. As a group, research analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of Exact Sciences 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 sale, the director owned 59,962 shares of the company's stock, valued at $2,519,603.24. The trade was a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on EXAS shares. UBS Group dropped their price objective on Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada dropped their target price on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. Craig Hallum raised their target price on Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday. BTIG Research dropped their target price on Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Barclays dropped their target price on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Exact Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price 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.