Holocene Advisors LP Has $127.35 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Holocene Advisors LP trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 58.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,869,427 shares of the medical research company’s stock after selling 2,644,107 shares during the quarter. Holocene Advisors LP’s holdings in Exact Sciences were worth $127,345,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank increased its stake in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences during the 2nd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences during the third quarter worth about $35,000. Finally, Vestor Capital LLC bought a new stake in Exact Sciences during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXAS. Benchmark reduced their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group reduced their price objective 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. Evercore ISI dropped their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Piper Sandler decreased their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Craig Hallum reduced their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences Stock Up 0.6 %

Shares of EXAS stock opened at $62.08 on Monday. The stock has a market cap of $11.49 billion, a P/E ratio of -53.06 and a beta of 1.27. The company’s fifty day simple moving average is $63.85 and its two-hundred day simple moving average is $56.03. 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 52 week low of $40.62 and a 52 week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its 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). The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts predict that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Insider Activity

In other news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Company 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.