Eventide Asset Management LLC Sells 3,815,000 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Eventide Asset Management LLC lowered its stake in Exact Sciences Co. (NASDAQ:EXASGet Rating) by 71.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,490,000 shares of the medical research company’s stock after selling 3,815,000 shares during the quarter. Exact Sciences makes up 1.6% of Eventide Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Eventide Asset Management LLC owned about 0.85% of Exact Sciences worth $104,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. ARK Investment Management LLC boosted its stake in Exact Sciences by 6.1% in the 1st quarter. ARK Investment Management LLC now owns 14,323,962 shares of the medical research company’s stock worth $1,001,531,000 after purchasing an additional 827,948 shares during the period. Eagle Asset Management Inc. boosted its stake in Exact Sciences by 1.5% in the 1st quarter. Eagle Asset Management Inc. now owns 351,473 shares of the medical research company’s stock worth $24,574,000 after purchasing an additional 5,050 shares during the period. Dimensional Fund Advisors LP boosted its stake in Exact Sciences by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 395,186 shares of the medical research company’s stock worth $30,756,000 after purchasing an additional 26,058 shares during the period. IFM Investors Pty Ltd boosted its stake in Exact Sciences by 16.9% in the 1st quarter. IFM Investors Pty Ltd now owns 25,720 shares of the medical research company’s stock worth $1,798,000 after purchasing an additional 3,709 shares during the period. Finally, Gofen & Glossberg LLC IL boosted its stake in Exact Sciences by 10.4% in the 1st quarter. Gofen & Glossberg LLC IL now owns 7,400 shares of the medical research company’s stock worth $517,000 after purchasing an additional 700 shares during the period. Institutional investors own 90.95% of the company’s stock.

Exact Sciences Price Performance

EXAS opened at $41.61 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.23 and a current ratio of 2.48. Exact Sciences Co. has a 52-week low of $34.16 and a 52-week high of $108.99. The stock has a market capitalization of $7.36 billion, a PE ratio of -9.84 and a beta of 1.37. The stock’s 50 day moving average price is $42.56 and its 200-day moving average price is $52.06.

Insider Activity

In other news, Director Katherine S. Zanotti sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $45.14, for a total transaction of $208,005.12. Following the transaction, the director now directly owns 60,318 shares of the company’s stock, valued at $2,722,754.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Katherine S. Zanotti sold 1,086 shares of Exact Sciences stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $40.13, for a total transaction of $43,581.18. Following the sale, the director now directly owns 60,318 shares in the company, valued at $2,420,561.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katherine S. Zanotti sold 4,608 shares of Exact Sciences stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total value of $208,005.12. Following the sale, the director now owns 60,318 shares in the company, valued at $2,722,754.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,701 shares of company stock valued at $251,872. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EXAS shares. Cowen decreased their price objective on Exact Sciences from $83.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, August 3rd. Credit Suisse Group started coverage on Exact Sciences in a report on Wednesday, August 24th. They set an “outperform” rating and a $55.00 price objective on the stock. Citigroup decreased their price objective on Exact Sciences from $65.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 3rd. Cowen decreased their price objective on Exact Sciences from $83.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, August 3rd. Finally, BTIG Research decreased their price objective on Exact Sciences from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.14.

About Exact Sciences

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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 Test, 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; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

See Also

Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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