Prime Capital Investment Advisors LLC Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Prime Capital Investment Advisors LLC trimmed its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 57.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,772 shares of the medical research company’s stock after selling 5,084 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Exact Sciences were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of EXAS. American Century Companies Inc. lifted its stake in Exact Sciences by 16.5% in the 1st quarter. American Century Companies Inc. now owns 5,760 shares of the medical research company’s stock worth $403,000 after purchasing an additional 817 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Exact Sciences during the 1st quarter worth approximately $742,000. Panagora Asset Management Inc. increased its holdings in shares of Exact Sciences by 4.6% during the 1st quarter. Panagora Asset Management Inc. now owns 7,281 shares of the medical research company’s stock worth $509,000 after buying an additional 323 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exact Sciences by 13.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 448,640 shares of the medical research company’s stock worth $31,377,000 after buying an additional 53,454 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Exact Sciences by 143.5% during the 1st quarter. Vontobel Holding Ltd. now owns 22,230 shares of the medical research company’s stock worth $1,585,000 after buying an additional 13,102 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exact Sciences

In related news, Director D Scott Coward sold 1,376 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $84,527.68. Following the completion of the sale, the director now directly owns 41,580 shares of the company’s stock, valued at $2,554,259.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Exact Sciences news, Director D Scott Coward sold 1,376 shares of Exact Sciences stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $84,527.68. Following the transaction, the director now directly owns 41,580 shares in the company, valued at $2,554,259.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacob A. Orville sold 966 shares of Exact Sciences stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,341.38. Following the completion of the transaction, the insider now owns 7,488 shares in the company, valued at $459,987.84. The disclosure for this sale can be found here. Insiders sold a total of 69,113 shares of company stock valued at $4,165,273 over the last ninety days. Insiders own 1.30% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $71.34 on Friday. The stock has a market cap of $12.95 billion, a P/E ratio of -62.58 and a beta of 1.25. The company has a fifty day simple moving average of $63.28 and a 200-day simple moving average of $65.20. Exact Sciences Co. has a 12-month low of $56.05 and a 12-month high of $100.77. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The business had revenue of $646.89 million during the quarter, compared to analysts’ expectations of $638.83 million. During the same period in the previous year, the company earned ($0.72) EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts expect that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXAS. Benchmark upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Tuesday, January 2nd. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Citigroup reiterated a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a report on Wednesday, April 3rd. TheStreet downgraded shares of Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Finally, Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.44.

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 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.