Acorn Financial Advisory Services Inc. ADV lifted its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,165 shares of the medical research company’s stock after buying an additional 382 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Exact Sciences were worth $1,340,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of EXAS. Norges Bank acquired a new position in shares of Exact Sciences during the fourth quarter worth approximately $201,627,000. Nikko Asset Management Americas Inc. lifted its position in Exact Sciences by 1,041.1% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,325,289 shares of the medical research company’s stock worth $175,588,000 after purchasing an additional 1,209,150 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Exact Sciences by 169.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,839,313 shares of the medical research company’s stock worth $243,691,000 after purchasing an additional 1,156,192 shares during the period. Renaissance Technologies LLC lifted its position in Exact Sciences by 328.7% in the fourth quarter. Renaissance Technologies LLC now owns 610,204 shares of the medical research company’s stock worth $80,846,000 after purchasing an additional 467,874 shares during the period. Finally, Avidity Partners Management LP bought a new stake in Exact Sciences during the fourth quarter valued at about $32,725,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
NASDAQ:EXAS traded up $0.14 during mid-day trading on Monday, hitting $125.68. The company’s stock had a trading volume of 26,922 shares, compared to its average volume of 1,787,891. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of -56.81 and a beta of 1.64. The stock has a fifty day moving average of $131.34 and a 200-day moving average of $127.69. The company has a current ratio of 6.35, a quick ratio of 6.04 and a debt-to-equity ratio of 0.68. Exact Sciences Co. has a fifty-two week low of $63.32 and a fifty-two week high of $159.54.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Exact Sciences from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, February 17th. Robert W. Baird reduced their target price on shares of Exact Sciences from $169.00 to $163.00 and set an “outperform” rating for the company in a research note on Thursday, February 18th. Canaccord Genuity increased their target price on shares of Exact Sciences from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, January 12th. They noted that the move was a valuation call. Truist began coverage on shares of Exact Sciences in a research note on Wednesday, January 27th. They issued a “buy” rating and a $226.00 target price for the company. Finally, Zacks Investment Research cut shares of Exact Sciences from a “hold” rating to a “strong sell” rating and set a $123.00 target price for the company. in a research note on Tuesday, March 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Exact Sciences has a consensus rating of “Buy” and an average target price of $148.63.
In other news, SVP Sarah Condella sold 1,679 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $138.42, for a total transaction of $232,407.18. Following the completion of the sale, the senior vice president now owns 75,731 shares of the company’s stock, valued at $10,482,685.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy sold 16,420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $136.30, for a total transaction of $2,238,046.00. Following the completion of the sale, the chief executive officer now directly owns 826,785 shares of the company’s stock, valued at approximately $112,690,795.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,428 shares of company stock valued at $8,114,785. Company insiders own 1.80% of the company’s stock.
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, a gene expression tests for breast, prostate, and colon cancers; Oncotype MAP, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; and Covid-19 testing services.
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