Ardevora Asset Management LLP Sells 59,792 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Ardevora Asset Management LLP trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 42.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,461 shares of the medical research company's stock after selling 59,792 shares during the period. Ardevora Asset Management LLP's holdings in Exact Sciences were worth $5,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXAS. True Wealth Design LLC acquired a new position in Exact Sciences during the fourth quarter valued at approximately $30,000. Wolff Wiese Magana LLC lifted its position in shares of Exact Sciences by 459.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company's stock worth $31,000 after purchasing an additional 340 shares in the last quarter. KB Financial Partners LLC acquired a new position in shares of Exact Sciences during the second quarter worth $32,000. BluePath Capital Management LLC acquired a new position in shares of Exact Sciences during the third quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Exact Sciences during the third quarter worth $34,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Sarah Condella sold 965 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,279.95. Following the completion of the sale, the executive vice president now directly owns 70,489 shares in the company, valued at $4,330,139.27. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Sarah Condella sold 965 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,279.95. Following the transaction, the executive vice president now owns 70,489 shares of the company's stock, valued at $4,330,139.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacob A. Orville sold 966 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,341.38. Following the transaction, the insider now directly owns 7,488 shares in the company, valued at approximately $459,987.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,113 shares of company stock worth $4,165,273. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Benchmark raised shares of Exact Sciences from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a research report on Tuesday, January 2nd. Citigroup reissued a "buy" rating and set a $100.00 target price on shares of Exact Sciences in a research report on Wednesday, April 3rd. Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. TheStreet cut shares of Exact Sciences from a "c-" rating to a "d+" rating in a report on Monday, February 26th. Finally, William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.44.

Exact Sciences Trading Down 4.0 %

Shares of EXAS traded down $2.52 during midday trading on Friday, hitting $60.96. The stock had a trading volume of 2,168,842 shares, compared to its average volume of 3,088,935. Exact Sciences Co. has a fifty-two week low of $56.05 and a fifty-two week high of $100.77. The business has a 50-day simple moving average of $63.42 and a two-hundred day simple moving average of $65.06. The firm has a market cap of $11.07 billion, a P/E ratio of -53.47 and a beta of 1.25. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to analysts' expectations of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted ($0.72) earnings per share. As a group, equities analysts forecast that Exact Sciences Co. will post -0.86 EPS for the current year.

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.