XTX Topco Ltd Has $1.02 Million Position in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• XTX Topco Ltd increased its ownership in Exact Sciences Corporation by 93.4% during the first quarter, acquiring an additional 11,409 shares and owning a total of 23,626 shares worth approximately $1,023,000.
• Multiple institutional investors have shown strong interest in Exact Sciences, with hedge funds owning 88.82% of the company's stock, reflecting a growing confidence in its market potential.
• Exact Sciences reported a 10.9% year-over-year increase in revenue, totaling $706.79 million for the last quarter, and beat analyst EPS estimates by $0.16.

XTX Topco Ltd grew its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 93.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,626 shares of the medical research company's stock after purchasing an additional 11,409 shares during the period. XTX Topco Ltd's holdings in Exact Sciences were worth $1,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EXAS. Larson Financial Group LLC raised its position in shares of 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 during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences in the first quarter valued at approximately $34,000. Banque Cantonale Vaudoise bought a new position in Exact Sciences during the first quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Exact Sciences during the fourth quarter worth $45,000. Finally, Ostrum Asset Management increased its position in Exact Sciences by 28.4% during the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after acquiring an additional 527 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the transaction, the director owned 72,759 shares in the company, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Trading Down 10.1%

Shares of EXAS stock traded down $4.74 during trading hours on Thursday, hitting $42.17. 14,435,567 shares of the company were exchanged, compared to its average volume of 2,699,575. The firm has a market cap of $7.95 billion, a P/E ratio of -7.60, a P/E/G ratio of 10.11 and a beta of 0.93. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73. The company has a 50 day simple moving average of $52.14 and a two-hundred day simple moving average of $50.22.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXAS. Evercore ISI boosted their target price on shares of Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Royal Bank Of Canada lowered their target price on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday. UBS Group reduced their price target on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Robert W. Baird upped their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Exact Sciences has an average rating of "Moderate Buy" and a consensus target price of $68.81.

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.