Vontobel Holding Ltd. Sells 25,374 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Vontobel Holding Ltd. lessened its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 86.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,968 shares of the medical research company’s stock after selling 25,374 shares during the period. Vontobel Holding Ltd.’s holdings in Exact Sciences were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EXAS. Gateway Investment Advisers LLC increased its holdings in shares of Exact Sciences by 90.5% in the first quarter. Gateway Investment Advisers LLC now owns 36,412 shares of the medical research company’s stock worth $2,515,000 after purchasing an additional 17,301 shares during the period. Brookstone Capital Management bought a new position in Exact Sciences in the 1st quarter worth about $387,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Exact Sciences by 1.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,809 shares of the medical research company’s stock valued at $2,473,000 after acquiring an additional 498 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Exact Sciences during the 1st quarter valued at about $287,000. Finally, Diversified Trust Co grew its holdings in shares of Exact Sciences by 138.0% during the first quarter. Diversified Trust Co now owns 9,980 shares of the medical research company’s stock worth $689,000 after purchasing an additional 5,786 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 1.6 %

NASDAQ:EXAS opened at $70.58 on Wednesday. The firm has a market capitalization of $13.02 billion, a P/E ratio of -53.47 and a beta of 1.27. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average of $64.81 and a 200 day moving average of $56.52.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping 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 company had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same period in the prior year, the business posted ($0.45) earnings per share. Exact Sciences’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This 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 through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Wells Fargo & Company began coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 target price on shares of Exact Sciences in a research note on Friday, September 13th. Benchmark dropped their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Scotiabank began coverage on Exact Sciences in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Exact Sciences 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.