VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.86 Million in Exact Sciences Corporation $EXAS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,900 shares of the medical research company’s stock, valued at approximately $1,855,000.

Several other large investors also recently made changes to their positions in the business. Patten & Patten Inc. TN grew its holdings in shares of Exact Sciences by 28.0% during the second quarter. Patten & Patten Inc. TN now owns 30,723 shares of the medical research company’s stock worth $1,633,000 after purchasing an additional 6,725 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Exact Sciences by 14.7% during the second quarter. Harbour Investments Inc. now owns 22,729 shares of the medical research company’s stock worth $1,208,000 after purchasing an additional 2,906 shares during the last quarter. CWM LLC grew its holdings in shares of Exact Sciences by 96.9% during the second quarter. CWM LLC now owns 41,978 shares of the medical research company’s stock worth $2,231,000 after purchasing an additional 20,662 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Exact Sciences by 22.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,796 shares of the medical research company’s stock worth $839,000 after purchasing an additional 2,853 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in shares of Exact Sciences by 15.6% during the second quarter. Aberdeen Group plc now owns 199,471 shares of the medical research company’s stock worth $10,600,000 after purchasing an additional 26,906 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Insiders Place Their Bets

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the transaction, the director owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $63.41 on Wednesday. The business’s 50-day simple moving average is $53.11 and its 200 day simple moving average is $51.39. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of -11.68, a P/E/G ratio of 5.56 and a beta of 1.24. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $72.83. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 1.75% and a negative net margin of 34.19%.The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) earnings per share. As a group, research analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXAS has been the topic of several research analyst reports. UBS Group decreased their target price on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Barclays raised their price target on Exact Sciences from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Exact Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $69.19.

Exact Sciences 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.