Exact Sciences Corporation $EXAS Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,018 shares of the medical research company’s stock after buying an additional 275 shares during the period. Farther Finance Advisors LLC’s holdings in Exact Sciences were worth $54,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Exact Sciences by 4,899.4% during the first quarter. GAMMA Investing LLC now owns 183,679 shares of the medical research company’s stock worth $7,951,000 after purchasing an additional 180,005 shares during the period. Rhumbline Advisers raised its position in Exact Sciences by 1.8% during the 1st quarter. Rhumbline Advisers now owns 221,301 shares of the medical research company’s stock worth $9,580,000 after buying an additional 3,873 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Exact Sciences by 110.0% in the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company’s stock worth $381,000 after acquiring an additional 4,609 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Exact Sciences by 6.1% in the first quarter. Park Avenue Securities LLC now owns 25,335 shares of the medical research company’s stock valued at $1,097,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Exact Sciences in the first quarter valued at about $368,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

EXAS stock opened at $57.63 on Tuesday. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of -10.61, a price-to-earnings-growth ratio of 5.24 and a beta of 1.24. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $72.83. The stock’s fifty day simple moving average is $49.76 and its 200-day simple moving average is $50.21.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.24. The business had revenue of $811.09 million for the quarter, compared to analysts’ expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share. Equities research analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, Director James Edward Doyle sold 1,485 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the sale, the director owned 59,962 shares of the company’s stock, valued at $2,519,603.24. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Exact Sciences in a report on Thursday, August 7th. Barclays raised their price target on Exact Sciences from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. BTIG Research dropped their price objective on Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Royal Bank Of Canada cut their price objective on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a research report on Thursday, August 7th. Finally, Craig Hallum boosted their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.52.

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.