Slow Capital Inc. Boosts Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Slow Capital Inc. boosted its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,655 shares of the medical research company’s stock after acquiring an additional 3,843 shares during the period. Slow Capital Inc.’s holdings in Exact Sciences were worth $5,222,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors raised its position in Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences during the 2nd quarter worth about $163,896,000. Champlain Investment Partners LLC raised its holdings in Exact Sciences by 175.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after buying an additional 1,438,010 shares during the period. Sculptor Capital LP acquired a new position in Exact Sciences in the second quarter valued at about $32,819,000. Finally, Samlyn Capital LLC purchased a new position in Exact Sciences during the second quarter worth about $30,426,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 3.9 %

Shares of NASDAQ EXAS opened at $71.93 on Friday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of -54.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The business has a 50-day moving average of $64.58 and a two-hundred day moving average of $56.76.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.28. The firm had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.45) earnings per share. On average, analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on EXAS shares. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a report on Friday, September 13th. Evercore ISI upped their price target on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, BTIG Research dropped their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.38.

About Exact Sciences

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.