Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC increased its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 257.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 186,358 shares of the medical research company’s stock after buying an additional 134,217 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.10% of Exact Sciences worth $12,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the period. Able Wealth Management LLC acquired a new position in Exact Sciences during the 4th quarter valued at about $45,000. Fortitude Family Office LLC acquired a new position in Exact Sciences during the 1st quarter valued at about $55,000. Finally, National Bank of Canada FI boosted its stake in Exact Sciences by 30.9% during the 4th quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 200 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXAS. Jefferies Financial Group began coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They set a “buy” rating and a $75.00 target price for the company. Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup reduced their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. BTIG Research dropped their price target on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Evercore ISI dropped their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.80.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded up $1.52 during midday trading on Friday, reaching $46.36. The company’s stock had a trading volume of 2,378,212 shares, compared to its average volume of 2,931,999. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $47.11 and a 200 day moving average price of $58.31. Exact Sciences Co. has a one year low of $40.62 and a one year high of $100.77. The company has a market cap of $8.55 billion, a price-to-earnings ratio of -35.12 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $637.52 million for the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. On average, equities research analysts expect that Exact Sciences Co. will post -1.15 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now directly owns 1,156,191 shares of the company’s stock, valued at $69,544,888.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,498 shares of company stock valued at $90,105 over the last ninety days. Corporate insiders own 1.36% 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.