Vestmark Advisory Solutions Inc. Buys New Position in Exact Sciences Co. (NASDAQ:EXAS)

Vestmark Advisory Solutions Inc. bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,519 shares of the medical research company’s stock, valued at approximately $3,072,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in shares of Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after buying an additional 340 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at about $33,000. Cullen Frost Bankers Inc. increased its position in Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock valued at $48,000 after buying an additional 200 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after acquiring an additional 176 shares in the last quarter. Finally, Milestone Investment Advisors LLC acquired a new stake in Exact Sciences in the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $56.89, for a total transaction of $106,896.31. Following the sale, the insider now directly owns 11,754 shares in the company, valued at approximately $668,685.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total transaction of $106,896.31. Following the transaction, the insider now owns 11,754 shares in the company, valued at approximately $668,685.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin T. Conroy sold 14,791 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $908,611.13. Following the transaction, the chief executive officer now directly owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,611 shares of company stock valued at $4,255,377. Corporate insiders own 1.30% of the company’s stock.

Exact Sciences Trading Up 2.5 %

Shares of EXAS traded up $1.53 during mid-day trading on Friday, hitting $62.07. 1,612,633 shares of the company’s stock traded hands, compared to its average volume of 2,357,020. 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 Co. has a 1 year low of $56.05 and a 1 year high of $100.77. The firm has a market capitalization of $11.41 billion, a P/E ratio of -54.45 and a beta of 1.26. The business’s 50-day moving average price is $63.37 and its 200-day moving average price is $64.75.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on EXAS. Citigroup reiterated a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a report on Wednesday, April 3rd. Canaccord Genuity Group dropped their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Finally, TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.44.

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.