Mutual of America Capital Management LLC Cuts Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Mutual of America Capital Management LLC lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,157 shares of the medical research company’s stock after selling 350 shares during the period. Mutual of America Capital Management LLC’s holdings in Exact Sciences were worth $234,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EXAS. CWM LLC raised its stake in Exact Sciences by 35.1% during the third quarter. CWM LLC now owns 7,126 shares of the medical research company’s stock worth $486,000 after purchasing an additional 1,851 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Exact Sciences in the 3rd quarter valued at $34,000. GHP Investment Advisors Inc. purchased a new position in shares of Exact Sciences in the 3rd quarter valued at $54,000. Exchange Traded Concepts LLC raised its stake in shares of Exact Sciences by 9.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,790 shares of the medical research company’s stock valued at $1,077,000 after acquiring an additional 1,336 shares during the period. Finally, Strategic Blueprint LLC raised its stake in shares of Exact Sciences by 3.1% in the 3rd quarter. Strategic Blueprint LLC now owns 5,449 shares of the medical research company’s stock valued at $372,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EXAS shares. Benchmark raised shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Tuesday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Citigroup reaffirmed a “buy” rating and set a $100.00 price target on shares of Exact Sciences in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group lowered their price target 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $97.44.

Insider Transactions at Exact Sciences

In other news, EVP Sarah Condella sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the executive vice president now directly owns 71,787 shares in the company, valued at approximately $5,025,090. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Kevin T. Conroy sold 14,791 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $908,611.13. Following the transaction, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now owns 71,787 shares in the company, valued at $5,025,090. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,113 shares of company stock worth $4,165,273. 1.30% of the stock is currently owned by insiders.

Exact Sciences Price Performance

Shares of EXAS stock opened at $63.53 on Wednesday. The firm has a market cap of $11.53 billion, a P/E ratio of -55.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07. Exact Sciences Co. has a 1-year low of $56.05 and a 1-year high of $100.77. The firm has a fifty day moving average of $63.50 and a two-hundred day moving average of $65.05.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $646.89 million for the quarter, compared to the consensus estimate of $638.83 million. During the same period last year, the firm posted ($0.72) EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal 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.