BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 75,028 Shares of Exact Sciences Co. (NASDAQ:EXAS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Exact Sciences Co. (NASDAQ:EXAS) by 215.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,815 shares of the medical research company’s stock after purchasing an additional 75,028 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Exact Sciences were worth $7,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Huntington National Bank grew its position in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences in the 3rd quarter worth about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the 3rd quarter worth about $35,000. Vestor Capital LLC bought a new position in Exact Sciences during the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences in the third quarter valued at about $47,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Trading Up 0.6 %

NASDAQ:EXAS opened at $62.08 on Monday. 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 Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of -53.06 and a beta of 1.27. The business’s 50-day moving average price is $63.85 and its two-hundred day moving average price is $56.03.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly 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). The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The trade was a 6.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXAS. Piper Sandler dropped their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. TD Cowen raised their target price on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Benchmark reduced their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI lowered their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.29.

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.