PNC Financial Services Group Inc. Buys 4,258 Shares of Exact Sciences Co. (NASDAQ:EXAS)

PNC Financial Services Group Inc. lifted its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,191 shares of the medical research company’s stock after acquiring an additional 4,258 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Exact Sciences were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its holdings in Exact Sciences by 459.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after purchasing an additional 340 shares in the last quarter. Able Wealth Management LLC bought a new stake in Exact Sciences in the fourth quarter worth approximately $45,000. Valley National Advisers Inc. increased its holdings in Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after purchasing an additional 176 shares in the last quarter. National Bank of Canada FI increased its holdings in Exact Sciences by 30.9% in the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock worth $63,000 after purchasing an additional 200 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Exact Sciences in the fourth quarter worth approximately $66,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $44.85 on Friday. The business’s fifty day simple moving average is $52.46 and its 200 day simple moving average is $60.99. The firm has a market capitalization of $8.28 billion, a P/E ratio of -33.98 and a beta of 1.26. Exact Sciences Co. has a 12 month low of $41.08 and a 12 month high of $100.77. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $637.52 million for the quarter, compared to analyst estimates of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. As a group, analysts anticipate that Exact Sciences Co. will post -1.15 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now directly owns 73,787 shares in the company, valued at $5,165,090. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now directly owns 73,787 shares in the company, valued at $5,165,090. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The disclosure for this sale can be found here. Insiders have sold a total of 5,498 shares of company stock worth $370,105 over the last ninety days. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of research reports. Citigroup reduced their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Jefferies Financial Group initiated coverage on Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective for the company. BTIG Research reduced their price objective on Exact Sciences from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Canaccord Genuity Group reduced their price objective on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.00.

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.