Connor Clark & Lunn Investment Management Ltd. Buys 115,387 Shares of Exact Sciences Corporation $EXAS

Connor Clark & Lunn Investment Management Ltd. increased its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 15.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 884,637 shares of the medical research company’s stock after purchasing an additional 115,387 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.47% of Exact Sciences worth $47,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXAS. Vanguard Group Inc. raised its position in shares of Exact Sciences by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock valued at $763,535,000 after purchasing an additional 617,384 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after buying an additional 643,631 shares during the last quarter. Mackenzie Financial Corp grew its stake in Exact Sciences by 12.4% in the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock valued at $142,062,000 after buying an additional 362,314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Exact Sciences by 120.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock worth $135,453,000 after acquiring an additional 1,707,287 shares during the period. Finally, Armistice Capital LLC lifted its position in Exact Sciences by 9.6% during the 1st quarter. Armistice Capital LLC now owns 1,772,369 shares of the medical research company’s stock worth $76,726,000 after acquiring an additional 155,369 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of the transaction, the executive vice president owned 22,368 shares in the company, valued at $1,567,549.44. This trade represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the sale, the director directly owned 57,962 shares in the company, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 6,343 shares of company stock worth $382,688. 1.20% of the stock is owned by company insiders.

Exact Sciences Price Performance

Shares of EXAS stock opened at $66.18 on Friday. The company has a market capitalization of $12.53 billion, a P/E ratio of -12.19, a P/E/G ratio of 5.56 and a beta of 1.34. 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 Corporation has a 12 month low of $38.81 and a 12 month high of $72.81. The stock has a 50 day moving average of $58.09 and a two-hundred day moving average of $53.46.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.Exact Sciences’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. Exact Sciences has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

EXAS has been the topic of several research analyst reports. Evercore ISI raised their price target on Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Benchmark increased their target price on Exact Sciences from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Robert W. Baird lifted their price target on Exact Sciences from $72.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wall Street Zen lowered Exact Sciences from a “buy” rating to a “hold” rating in a report on Saturday. Finally, TD Cowen raised their price objective on shares of Exact Sciences from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $73.44.

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.