Cresset Asset Management LLC Has $828,000 Stake in Exact Sciences Corporation $EXAS

Cresset Asset Management LLC grew its position in Exact Sciences Corporation (NASDAQ:EXAS) by 78.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,578 shares of the medical research company’s stock after acquiring an additional 6,862 shares during the period. Cresset Asset Management LLC’s holdings in Exact Sciences were worth $828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in Exact Sciences during the 2nd quarter worth approximately $157,805,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Exact Sciences by 120.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock worth $135,453,000 after purchasing an additional 1,707,287 shares in the last quarter. Nuveen LLC bought a new stake in shares of Exact Sciences during the first quarter worth $45,334,000. Norges Bank bought a new stake in shares of Exact Sciences during the second quarter worth $48,372,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Exact Sciences by 11.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after buying an additional 643,631 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EXAS shares. Barclays reissued an “equal weight” rating and set a $105.00 price objective (up previously from $77.00) on shares of Exact Sciences in a report on Thursday, November 20th. Robert W. Baird set a $105.00 price target on shares of Exact Sciences in a research note on Thursday, November 20th. TD Cowen lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Wolfe Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Wall Street Zen lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Exact Sciences has a consensus rating of “Hold” and a consensus price target of $85.00.

Insider Activity

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the sale, the director directly owned 57,962 shares in the company, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. This represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,858 shares of company stock valued at $695,289 in the last ninety days. 1.20% of the stock is owned by insiders.

Exact Sciences Stock Performance

EXAS stock opened at $101.25 on Thursday. The business’s fifty day moving average is $75.23 and its 200-day moving average is $59.64. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. The company has a market cap of $19.18 billion, a P/E ratio of -19.03, a price-to-earnings-growth ratio of 12.49 and a beta of 1.42. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $101.95.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The business had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. Equities research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

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.