Van ECK Associates Corp Sells 9,078 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Van ECK Associates Corp trimmed its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,390 shares of the medical research company’s stock after selling 9,078 shares during the period. Van ECK Associates Corp owned about 0.08% of Exact Sciences worth $10,386,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EXAS. Artisan Partners Limited Partnership lifted its holdings in Exact Sciences by 11.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock worth $270,254,000 after buying an additional 418,770 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Exact Sciences by 11.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company’s stock worth $137,483,000 after acquiring an additional 192,372 shares during the period. Jennison Associates LLC boosted its holdings in Exact Sciences by 94.0% in the fourth quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock valued at $100,681,000 after acquiring an additional 659,235 shares in the last quarter. Northern Trust Corp increased its position in Exact Sciences by 5.4% during the 3rd quarter. Northern Trust Corp now owns 1,128,376 shares of the medical research company’s stock valued at $76,978,000 after purchasing an additional 57,423 shares during the period. Finally, Rock Springs Capital Management LP raised its holdings in Exact Sciences by 7.9% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,018,250 shares of the medical research company’s stock worth $69,465,000 after purchasing an additional 74,750 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Exact Sciences news, insider Jacob A. Orville sold 966 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,341.38. Following the completion of the sale, the insider now directly owns 7,488 shares in the company, valued at approximately $459,987.84. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Exact Sciences news, insider Jacob A. Orville sold 966 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,341.38. Following the transaction, the insider now directly owns 7,488 shares of the company’s stock, valued at $459,987.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Thomas Elliott sold 1,888 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $115,979.84. Following the sale, the chief financial officer now directly owns 2,084 shares of the company’s stock, valued at approximately $128,020.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,611 shares of company stock worth $4,255,377. 1.30% of the stock is owned by insiders.

Exact Sciences Stock Performance

Shares of EXAS opened at $60.54 on Friday. Exact Sciences Co. has a 12 month low of $56.05 and a 12 month high of $100.77. The business’s fifty day simple moving average is $63.26 and its two-hundred day simple moving average is $64.81. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The company has a market cap of $11.13 billion, a price-to-earnings ratio of -53.11 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup reissued a “buy” rating and issued a $100.00 price target on shares of Exact Sciences in a research note on Wednesday, April 3rd. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.44.

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.