Assetmark Inc. Acquires 852 Shares of Exact Sciences Corporation $EXAS

Assetmark Inc. lifted its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 34.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,346 shares of the medical research company’s stock after buying an additional 852 shares during the period. Assetmark Inc.’s holdings in Exact Sciences were worth $178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Exact Sciences by 120.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock valued at $135,453,000 after acquiring an additional 1,707,287 shares during the period. Nuveen LLC acquired a new stake in Exact Sciences during the 1st quarter worth $45,334,000. Price T Rowe Associates Inc. MD boosted its holdings in Exact Sciences by 11.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock worth $277,225,000 after buying an additional 643,631 shares during the last quarter. Vanguard Group Inc. grew its holdings in Exact Sciences by 3.6% during the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock valued at $763,535,000 after purchasing an additional 617,384 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in Exact Sciences during the 2nd quarter worth $28,169,000. Institutional investors own 88.82% of the company’s stock.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the sale, the executive vice president directly owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. This represents a 11.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Edward Doyle sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the sale, the director directly owned 57,962 shares of the company’s stock, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,343 shares of company stock valued at $382,688 in the last quarter. Company insiders own 1.20% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $66.18 on Friday. The firm has a 50 day moving average of $58.09 and a 200-day moving average of $53.46. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $72.81. The company has a market cap of $12.53 billion, a price-to-earnings ratio of -12.19, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. 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 (NASDAQ:EXAS) last issued its earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The company had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same period last year, the business posted ($0.21) EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EXAS shares. Guggenheim upped their target price on shares of Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Stifel Nicolaus lifted their target price on Exact Sciences from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Craig Hallum lifted their price target on Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Royal Bank Of Canada lowered their price objective on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $73.44.

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.