GAMMA Investing LLC Purchases Shares of 1,125 Exact Sciences Co. (NASDAQ:EXAS)

GAMMA Investing LLC acquired a new position in Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,125 shares of the medical research company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC grew its holdings in shares of Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after purchasing an additional 340 shares during the period. BluePath Capital Management LLC purchased a new stake in Exact Sciences during the 3rd quarter worth $33,000. Cullen Frost Bankers Inc. boosted its position in shares of Exact Sciences by 40.0% in the third quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after buying an additional 200 shares during the period. Valley National Advisers Inc. lifted its position in Exact Sciences by 29.5% during the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after acquiring an additional 176 shares in the last quarter. Finally, Milestone Investment Advisors LLC acquired a new position in Exact Sciences during the 3rd quarter worth approximately $57,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy sold 14,791 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $908,611.13. Following the completion of the transaction, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Kevin T. Conroy sold 14,791 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $908,611.13. Following the completion of the transaction, the chief executive officer now owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sarah Condella sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. 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 73,787 shares of the company’s stock, valued at approximately $5,165,090. The disclosure for this sale can be found here. Insiders sold a total of 69,113 shares of company stock worth $4,165,273 in the last three months. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EXAS shares. TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Canaccord Genuity Group cut their target price on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Citigroup reaffirmed a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a research report on Wednesday, April 3rd. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Finally, Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.44.

Exact Sciences Price Performance

Shares of EXAS opened at $58.78 on Tuesday. The company has a market cap of $10.81 billion, a P/E ratio of -51.56 and a beta of 1.25. The stock has a fifty day moving average price of $63.40 and a 200 day moving average price of $64.89. 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 12 month low of $56.05 and a 12 month high of $100.77.

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

About Exact Sciences

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.