Commerce Bank Purchases 1,075 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Commerce Bank boosted its position in Exact Sciences Co. (NASDAQ:EXAS) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,678 shares of the medical research company’s stock after acquiring an additional 1,075 shares during the quarter. Commerce Bank’s holdings in Exact Sciences were worth $1,000,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WCM Investment Management LLC increased its stake in Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after acquiring an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. grew its stake in shares of Exact Sciences by 67.5% during the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after buying an additional 11,800 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Exact Sciences by 239.8% during the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after buying an additional 55,459 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences during the second quarter worth $163,896,000. Finally, Swedbank AB bought a new stake in shares of Exact Sciences during the first quarter worth $2,719,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Trading Down 0.3 %

EXAS opened at $52.91 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm has a market capitalization of $9.79 billion, a PE ratio of -45.22 and a beta of 1.27. The company’s 50-day moving average is $64.79 and its 200 day moving average is $55.84.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The business’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts predict that Exact Sciences Co. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EXAS shares. The Goldman Sachs Group decreased their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Benchmark decreased their target price on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. TD Cowen cut their price target on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Craig Hallum cut their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein lifted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.47.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin T. Conroy acquired 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by company 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 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.