Advisory Research Inc. Increases Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Advisory Research Inc. grew its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 16.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,097 shares of the medical research company’s stock after buying an additional 1,165 shares during the period. Advisory Research Inc.’s holdings in Exact Sciences were worth $1,067,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Exact Sciences by 278.3% in the first quarter. Baillie Gifford & Co. now owns 4,347,026 shares of the medical research company’s stock valued at $572,851,000 after buying an additional 3,197,782 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Exact Sciences by 7.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,195,857 shares of the medical research company’s stock valued at $423,419,000 after buying an additional 215,604 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Exact Sciences by 45.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,676,187 shares of the medical research company’s stock valued at $352,668,000 after buying an additional 836,874 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Exact Sciences by 65.9% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,198,130 shares of the medical research company’s stock valued at $289,670,000 after buying an additional 872,841 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Exact Sciences in the fourth quarter valued at about $201,627,000. 88.07% of the stock is owned by institutional investors and hedge funds.

EXAS stock opened at $121.91 on Friday. The firm has a 50 day simple moving average of $117.18. The firm has a market capitalization of $20.91 billion, a price-to-earnings ratio of -24.33 and a beta of 1.29. Exact Sciences Co. has a 12 month low of $70.75 and a 12 month high of $159.54. The company has a quick ratio of 2.68, a current ratio of 2.82 and a debt-to-equity ratio of 0.52.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Monday, May 3rd. The medical research company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.86. The business had revenue of $402.10 million for the quarter, compared to analyst estimates of $394.66 million. Exact Sciences had a negative net margin of 50.08% and a negative return on equity of 6.55%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.71) earnings per share. Sell-side analysts expect that Exact Sciences Co. will post -2.65 EPS for the current year.

A number of equities research analysts have recently commented on EXAS shares. BTIG Research reduced their target price on shares of Exact Sciences from $175.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, May 5th. Wells Fargo & Company began coverage on shares of Exact Sciences in a report on Tuesday, May 25th. They set an “equal weight” rating and a $115.00 price target for the company. Robert W. Baird cut their price target on shares of Exact Sciences from $169.00 to $163.00 and set an “outperform” rating for the company in a report on Thursday, February 18th. Cowen increased their price target on shares of Exact Sciences from $154.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, February 17th. Finally, Craig Hallum cut their price target on shares of Exact Sciences from $161.00 to $144.00 and set a “buy” rating for the company in a report on Wednesday, May 5th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $151.22.

In other news, CEO Kevin T. Conroy sold 19,240 shares of the stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $131.09, for a total value of $2,522,171.60. Following the sale, the chief executive officer now directly owns 776,736 shares in the company, valued at $101,822,322.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

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, a gene expression tests for breast, prostate, and colon cancers; Oncotype MAP, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; and Covid-19 testing services.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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