Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 5.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 320,607 shares of the medical research company’s stock after selling 19,097 shares during the period. New York State Common Retirement Fund’s holdings in Exact Sciences were worth $23,719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares during the period. BluePath Capital Management LLC purchased a new stake in Exact Sciences in the 3rd quarter valued at about $33,000. Cullen Frost Bankers Inc. raised its holdings in Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock valued at $48,000 after buying an additional 200 shares during the period. Valley National Advisers Inc. raised its holdings in Exact Sciences by 29.5% in the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after buying an additional 176 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new stake in Exact Sciences during the third quarter worth about $54,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EXAS has been the topic of a number of recent research reports. TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Citigroup reiterated a “buy” rating and set a $100.00 price target on shares of Exact Sciences in a research note on Wednesday, April 3rd. Canaccord Genuity Group cut their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Benchmark upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.44.

Insider Activity at Exact Sciences

In related news, General Counsel James Herriott sold 421 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the transaction, the general counsel now directly owns 6,494 shares of the company’s stock, valued at $398,926.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel James Herriott sold 421 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the sale, the general counsel now directly owns 6,494 shares of the company’s stock, valued at $398,926.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sarah Condella sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the executive vice president now directly owns 71,787 shares of the company’s stock, valued at $5,025,090. The disclosure for this sale can be found here. Insiders sold 69,113 shares of company stock valued at $4,165,273 over the last three months. 1.30% of the stock is owned by corporate insiders.

Exact Sciences Stock Performance

Shares of EXAS opened at $58.85 on Friday. The stock has a 50 day moving average price of $63.44 and a 200 day moving average price of $64.95. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of -51.62 and a beta of 1.25. Exact Sciences Co. has a 52-week low of $56.05 and a 52-week high of $100.77.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.26. The firm had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.72) earnings per share. Research analysts predict that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Exact Sciences Company 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.