BI Asset Management Fondsmaeglerselskab A S Sells 8,704 Shares of Exact Sciences Corporation $EXAS

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Exact Sciences Corporation (NASDAQ:EXAS) by 42.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,586 shares of the medical research company’s stock after selling 8,704 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Exact Sciences were worth $502,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after buying an additional 589 shares during the last quarter. National Pension Service lifted its holdings in Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after acquiring an additional 292 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences in the first quarter worth $34,000. Banque Cantonale Vaudoise bought a new position in Exact Sciences in the 1st quarter valued at $34,000. Finally, Bayforest Capital Ltd increased its position in shares of Exact Sciences by 95.8% during the 1st quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 453 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $47.47 on Friday. The firm’s 50 day moving average is $49.57 and its 200 day moving average is $49.31. The stock has a market capitalization of $8.99 billion, a P/E ratio of -8.74, a PEG ratio of 4.85 and a beta of 0.93. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $72.83. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. The business had revenue of $811.09 million for the quarter, compared to analysts’ expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, sell-side analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Exact Sciences from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, August 11th. Cowen reiterated a “buy” rating on shares of Exact Sciences in a research note on Thursday, August 7th. Wall Street Zen raised shares of Exact Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Barclays lowered their price target on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, UBS Group reduced their price objective on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $67.43.

Insider Transactions at Exact Sciences

In other news, Director James Edward Doyle sold 1,485 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the sale, the director directly owned 59,962 shares in the company, valued at $2,519,603.24. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Katherine S. Zanotti sold 3,207 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares of the company’s stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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.