Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 28.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,971 shares of the medical research company’s stock after selling 16,449 shares during the period. Victory Capital Management Inc.’s holdings in Exact Sciences were worth $2,859,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of EXAS. WCM Investment Management LLC lifted its position in shares of Exact Sciences by 1,153.2% during the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the last quarter. Profund Advisors LLC lifted its holdings in Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after acquiring an additional 55,459 shares during the last quarter. William Blair Investment Management LLC bought a new position in Exact Sciences in the second quarter worth about $163,896,000. Swedbank AB bought a new position in Exact Sciences in the first quarter worth about $2,719,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Exact Sciences by 49.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 42,979 shares of the medical research company’s stock worth $1,816,000 after acquiring an additional 14,188 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The trade was a 6.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by company insiders.

Exact Sciences Trading Down 0.3 %

Exact Sciences stock opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of -45.22 and a beta of 1.27. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm’s 50 day moving average price is $64.79 and its two-hundred day moving average price is $55.87.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts predict that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXAS has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Robert W. Baird cut their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Jefferies Financial Group raised their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, TD Cowen cut their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.47.

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.