Metis Global Partners LLC Makes New $241,000 Investment in Exact Sciences Co. (NASDAQ:EXAS)

Metis Global Partners LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,533 shares of the medical research company’s stock, valued at approximately $241,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Exact Sciences by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares in the last quarter. Capital World Investors grew its position in shares of Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Exact Sciences during the 2nd quarter worth about $163,896,000. Armistice Capital LLC raised its position in shares of Exact Sciences by 91.6% during the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Exact Sciences by 19.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company’s stock worth $55,089,000 after buying an additional 208,641 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $53.92 on Wednesday. The stock has a market cap of $9.98 billion, a PE ratio of -46.09 and a beta of 1.27. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The stock has a fifty day simple moving average of $65.55 and a 200-day simple moving average of $56.02. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXAS. Piper Sandler reduced their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company began coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. Evercore ISI lowered their price target on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.47.

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.