QRG Capital Management Inc. Increases Stock Holdings in Exact Sciences Corporation $EXAS

QRG Capital Management Inc. increased its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,458 shares of the medical research company’s stock after purchasing an additional 7,869 shares during the period. QRG Capital Management Inc.’s holdings in Exact Sciences were worth $2,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Lecap Asset Management Ltd. purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $467,000. ASR Vermogensbeheer N.V. grew its position in Exact Sciences by 13.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 17,143 shares of the medical research company’s stock worth $911,000 after acquiring an additional 2,023 shares during the period. Leverty Financial Group LLC purchased a new position in Exact Sciences in the second quarter worth approximately $213,000. Janney Montgomery Scott LLC acquired a new stake in Exact Sciences during the second quarter worth $1,846,000. Finally, Archford Capital Strategies LLC purchased a new stake in Exact Sciences in the second quarter valued at $321,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of research analyst reports. UBS Group lowered their price target on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. BTIG Research reduced their price target on shares of Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Wells Fargo & Company set a $68.00 price objective on shares of Exact Sciences in a research report on Wednesday, October 1st. Finally, Cowen reissued a “buy” rating on shares of Exact Sciences in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

Exact Sciences Trading Up 1.6%

EXAS opened at $57.63 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.83. The company has a market cap of $10.91 billion, a P/E ratio of -10.61, a PEG ratio of 5.24 and a beta of 1.24. The business’s 50-day simple moving average is $49.76 and its 200-day simple moving average is $50.21.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly 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. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm had revenue of $811.09 million during the quarter, compared to the consensus estimate of $774.43 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the firm’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 transaction, the director owned 59,962 shares of the company’s stock, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

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.