Annis Gardner Whiting Capital Advisors LLC Purchases New Shares in Exact Sciences Corporation $EXAS

Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,330 shares of the medical research company’s stock, valued at approximately $401,000.

A number of other institutional investors also recently bought and sold shares of EXAS. Massachusetts Financial Services Co. MA purchased a new position in shares of Exact Sciences during the second quarter worth about $157,805,000. Holocene Advisors LP lifted its position in Exact Sciences by 189.5% during the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after acquiring an additional 1,404,086 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Exact Sciences by 643.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after purchasing an additional 1,113,459 shares during the last quarter. Norges Bank purchased a new position in shares of Exact Sciences in the 2nd quarter valued at approximately $48,372,000. Finally, AQR Capital Management LLC increased its holdings in shares of Exact Sciences by 73.3% in the second quarter. AQR Capital Management LLC now owns 1,753,283 shares of the medical research company’s stock valued at $93,169,000 after purchasing an additional 741,517 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Brian Baranick sold 2,858 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the sale, the executive vice president directly owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. This represents a 11.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the executive vice president owned 23,237 shares of the company’s stock, valued at approximately $1,742,775. The trade was a 17.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Exact Sciences Price Performance

EXAS stock opened at $102.30 on Friday. The firm has a 50 day moving average of $101.72 and a 200-day moving average of $71.56. The company has a market cap of $19.52 billion, a price-to-earnings ratio of -19.23, a PEG ratio of 2.41 and a beta of 1.40. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $102.66.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler downgraded Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Monday, November 24th. Jefferies Financial Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and lifted their target price for the company from $90.00 to $105.00 in a report on Monday, November 24th. Benchmark cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Exact Sciences in a research report on Thursday, January 22nd. Finally, Leerink Partners lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.56.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.