Samlyn Capital LLC Takes $30.43 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Samlyn Capital LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 720,147 shares of the medical research company’s stock, valued at approximately $30,426,000. Samlyn Capital LLC owned about 0.39% of Exact Sciences at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Exact Sciences in the second quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after buying an additional 179 shares during the last quarter. Able Wealth Management LLC acquired a new position in shares of Exact Sciences in the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC increased its position in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after purchasing an additional 340 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Exact Sciences during the first quarter worth approximately $55,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of EXAS stock opened at $69.64 on Tuesday. The company has a market capitalization of $12.85 billion, a PE ratio of -52.76 and a beta of 1.26. The firm has a fifty day simple moving average of $57.78 and a 200-day simple moving average of $55.89. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same period in the prior year, the firm posted ($0.45) EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on EXAS. Piper Sandler upped their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Wells Fargo & Company began coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. Scotiabank initiated coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target for the company. The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.14.

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.