Soros Capital Management LLC Acquires Shares of 51,700 Exact Sciences Co. (NASDAQ:EXAS)

Soros Capital Management LLC acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 51,700 shares of the medical research company’s stock, valued at approximately $3,522,000.

A number of other hedge funds also recently bought and sold shares of EXAS. B. Riley Wealth Advisors Inc. lifted its stake in Exact Sciences by 15.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,829 shares of the medical research company’s stock valued at $261,000 after buying an additional 525 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Exact Sciences in the first quarter worth approximately $570,000. iA Global Asset Management Inc. purchased a new stake in shares of Exact Sciences in the first quarter worth approximately $2,819,000. Plato Investment Management Ltd lifted its position in shares of Exact Sciences by 3,314.8% in the first quarter. Plato Investment Management Ltd now owns 11,747 shares of the medical research company’s stock worth $811,000 after purchasing an additional 11,403 shares in the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Exact Sciences by 13.5% in the first quarter. Wahed Invest LLC now owns 3,459 shares of the medical research company’s stock worth $239,000 after purchasing an additional 412 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st. Benchmark dropped their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. TD Cowen increased their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $75.29.

Insider Transactions at Exact Sciences

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

Exact Sciences Stock Performance

Shares of EXAS stock opened at $60.10 on Wednesday. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $64.51 and its two-hundred day moving average is $55.85.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Exact Sciences 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.