Frazier Financial Advisors LLC Sells 871 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Frazier Financial Advisors LLC trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 63.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498 shares of the medical research company’s stock after selling 871 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Exact Sciences were worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank increased its stake in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences in the 2nd quarter worth $29,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences in the 3rd quarter worth $35,000. Vestor Capital LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter worth $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter worth $47,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Trading Down 3.1 %

Shares of NASDAQ:EXAS opened at $49.33 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a 50-day moving average price of $65.83 and a 200 day moving average price of $56.18.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts expect that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXAS shares. Piper Sandler reduced their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Benchmark reduced their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Stifel Nicolaus cut their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen cut their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup cut their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.47.

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.