Global Assets Advisory LLC Buys New Stake in Exact Sciences Co. (NASDAQ:EXAS)

Global Assets Advisory LLC bought a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 261,714 shares of the medical research company’s stock, valued at approximately $18,074,000. Global Assets Advisory LLC owned approximately 0.14% of Exact Sciences as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its position in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 340 shares in the last quarter. Able Wealth Management LLC bought a new stake in shares of Exact Sciences during the fourth quarter worth approximately $45,000. Valley National Advisers Inc. lifted 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 valued at $53,000 after buying an additional 176 shares during the period. Fortitude Family Office LLC acquired a new stake in Exact Sciences during the 1st quarter worth $55,000. Finally, National Bank of Canada FI grew its stake in shares of Exact Sciences by 30.9% during 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 during the period. Institutional investors own 88.82% of the company’s stock.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total value of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the completion of the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,498 shares of company stock worth $370,105. Company insiders own 1.36% of the company’s stock.

Exact Sciences Trading Down 6.5 %

NASDAQ EXAS opened at $41.95 on Tuesday. The company has a market cap of $7.74 billion, a PE ratio of -31.78 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 stock has a 50 day moving average of $52.00 and a 200-day moving average of $60.80. 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 announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $637.52 million during the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. On average, equities research analysts anticipate that Exact Sciences Co. will post -1.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.