Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC boosted its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 0.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,232,119 shares of the medical research company’s stock after acquiring an additional 391 shares during the period. Exact Sciences accounts for 1.4% of Eventide Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. Eventide Asset Management LLC’s holdings in Exact Sciences were worth $83,932,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank lifted its stake in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Exact Sciences in the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in Exact Sciences during the third quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new stake in Exact Sciences during the 3rd quarter worth $35,000. Finally, Vestor Capital LLC acquired a new position in shares of Exact Sciences during the third quarter worth about $46,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $61.69 on Friday. The company has a 50-day moving average price of $64.20 and a two-hundred day moving average price of $55.93. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Sell-side analysts expect that Exact Sciences Co. will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Baranick sold 929 shares of Exact Sciences 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 directly owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI reduced their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup decreased their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group cut their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.29.

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.