Los Angeles Capital Management LLC Invests $1.34 Million in Exact Sciences Co. (NASDAQ:EXAS)

Los Angeles Capital Management LLC purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,142 shares of the medical research company's stock, valued at approximately $1,342,000.

Several other institutional investors also recently bought and sold shares of the business. Raymond James & Associates increased its stake in shares of Exact Sciences by 4.3% in the 3rd quarter. Raymond James & Associates now owns 59,495 shares of the medical research company's stock worth $4,059,000 after acquiring an additional 2,435 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Exact Sciences by 32.4% during the third quarter. Mackenzie Financial Corp now owns 13,070 shares of the medical research company's stock worth $857,000 after acquiring an additional 3,200 shares during the period. Strs Ohio raised its stake in shares of Exact Sciences by 8.7% in the third quarter. Strs Ohio now owns 23,282 shares of the medical research company's stock valued at $1,588,000 after acquiring an additional 1,864 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in Exact Sciences by 0.9% in the third quarter. IFM Investors Pty Ltd now owns 37,882 shares of the medical research company's stock valued at $2,584,000 after purchasing an additional 339 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Exact Sciences by 55.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,097 shares of the medical research company's stock worth $1,166,000 after purchasing an additional 6,086 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Trading Down 9.0 %

Shares of NASDAQ:EXAS traded down $5.33 during trading on Thursday, reaching $54.15. The stock had a trading volume of 10,594,496 shares, compared to its average volume of 2,383,032. Exact Sciences Co. has a fifty-two week low of $52.25 and a fifty-two week high of $100.77. The business has a fifty day moving average price of $63.58 and a 200-day moving average price of $64.58. The stock has a market cap of $9.96 billion, a P/E ratio of -47.50 and a beta of 1.26. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on EXAS. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday. Citigroup decreased their price objective on Exact Sciences from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday. BTIG Research decreased their price target on shares of Exact Sciences from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. TheStreet lowered shares of Exact Sciences from a "c-" rating to a "d+" rating in a research note on Monday, February 26th. Finally, William Blair reissued an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $95.40.

Insider Activity at Exact Sciences

In related news, EVP Sarah Condella sold 965 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $59,279.95. Following the sale, the executive vice president now directly owns 70,489 shares of the company's stock, valued at approximately $4,330,139.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel James Herriott sold 421 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the transaction, the general counsel now directly owns 6,494 shares of the company's stock, valued at approximately $398,926.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sarah Condella sold 965 shares of the firm's stock in a transaction dated 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 directly owns 70,489 shares in the company, valued at approximately $4,330,139.27. The disclosure for this sale can be found here. Insiders have sold 70,611 shares of company stock valued at $4,255,377 over the last ninety days. Corporate insiders own 1.30% 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.