Allianz Asset Management GmbH Makes New Investment in Exact Sciences Corporation $EXAS

Allianz Asset Management GmbH acquired a new stake in Exact Sciences Corporation (NASDAQ:EXAS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 93,776 shares of the medical research company’s stock, valued at approximately $5,130,000.

A number of other large investors also recently modified their holdings of EXAS. Atlantic Union Bankshares Corp increased its holdings in shares of Exact Sciences by 64.3% in the third quarter. Atlantic Union Bankshares Corp now owns 2,629 shares of the medical research company’s stock valued at $144,000 after purchasing an additional 1,029 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Exact Sciences by 14.3% during the 3rd quarter. Principal Financial Group Inc. now owns 844,648 shares of the medical research company’s stock worth $46,211,000 after buying an additional 105,844 shares in the last quarter. Lisanti Capital Growth LLC boosted its position in Exact Sciences by 14.9% in the 3rd quarter. Lisanti Capital Growth LLC now owns 35,700 shares of the medical research company’s stock valued at $1,953,000 after buying an additional 4,640 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Exact Sciences by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 55,784 shares of the medical research company’s stock valued at $3,052,000 after buying an additional 1,610 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in shares of Exact Sciences by 33.8% in the 3rd quarter. Great Lakes Advisors LLC now owns 6,463 shares of the medical research company’s stock valued at $354,000 after buying an additional 1,632 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Up 0.0%

Shares of NASDAQ EXAS opened at $103.35 on Wednesday. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $103.54. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. The stock has a market cap of $19.72 billion, a P/E ratio of -19.43, a P/E/G ratio of 2.44 and a beta of 1.42. The firm has a 50 day moving average price of $101.97 and a 200 day moving average price of $74.78.

Insider Buying and Selling

In related news, EVP Jacob A. Orville sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at approximately $1,742,775. This trade represents a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

EXAS has been the topic of several research reports. BTIG Research lowered Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Craig Hallum cut Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday, November 21st. Leerink Partners downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Canaccord Genuity Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and raised their target price for the company from $85.00 to $105.00 in a research note on Tuesday, November 25th. Finally, Wall Street Zen cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.56.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.