State of Alaska Department of Revenue Cuts Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

State of Alaska Department of Revenue decreased its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 54.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,720 shares of the medical research company’s stock after selling 4,450 shares during the period. State of Alaska Department of Revenue’s holdings in Exact Sciences were worth $253,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EXAS. V Square Quantitative Management LLC purchased a new position in shares of Exact Sciences in the 3rd quarter worth approximately $47,000. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences in the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its position in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Exact Sciences in the 3rd quarter worth approximately $49,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Exact Sciences in the 1st quarter worth approximately $67,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $51.48 on Friday. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The stock has a market cap of $9.53 billion, a P/E ratio of -44.00 and a beta of 1.27. The company has a 50-day moving average price of $66.76 and a 200 day moving average price of $56.51. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Benchmark cut their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. The Goldman Sachs Group dropped their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler boosted their target price 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. Finally, Citigroup dropped their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

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.