Atlantic Union Bankshares Corp Takes $85,000 Position in Exact Sciences Corporation $EXAS

Atlantic Union Bankshares Corp purchased a new position in Exact Sciences Corporation (NASDAQ:EXAS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,600 shares of the medical research company’s stock, valued at approximately $85,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Great Lakes Advisors LLC increased its holdings in Exact Sciences by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock valued at $215,000 after buying an additional 178 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in Exact Sciences by 0.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company’s stock valued at $971,000 after purchasing an additional 187 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Exact Sciences by 0.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 58,333 shares of the medical research company’s stock worth $3,127,000 after purchasing an additional 217 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Exact Sciences by 6.5% in the 2nd quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company’s stock valued at $237,000 after purchasing an additional 273 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Exact Sciences by 37.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company’s stock valued at $54,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.6%

NASDAQ:EXAS opened at $66.58 on Tuesday. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $72.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. The company has a market cap of $12.61 billion, a PE ratio of -12.26, a P/E/G ratio of 5.56 and a beta of 1.34. The firm’s 50 day simple moving average is $58.47 and its 200 day simple moving average is $53.68.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 22,368 shares in the company, valued at $1,567,549.44. This trade represents a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 6,343 shares of company stock valued at $382,688. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EXAS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Exact Sciences in a research report on Wednesday, October 8th. Craig Hallum boosted their target price on Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Evercore ISI raised their price target on shares of Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Wall Street Zen lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Saturday. Finally, UBS Group lowered their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.44.

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.