Motive Wealth Advisors Buys Shares of 2,908 Exact Sciences Co. (NASDAQ:EXAS)

Motive Wealth Advisors bought a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,908 shares of the medical research company’s stock, valued at approximately $201,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. raised its position in shares of Exact Sciences by 4.2% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 175 shares during the period. Perigon Wealth Management LLC raised its position in shares of Exact Sciences by 2.1% in the first quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock valued at $588,000 after purchasing an additional 175 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the period. National Bank of Canada FI raised its position in shares of Exact Sciences by 30.9% in the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 200 shares during the period. Finally, Sanders Morris Harris LLC raised its position in shares of Exact Sciences by 4.2% in the first quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock valued at $345,000 after purchasing an additional 200 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EXAS shares. Citigroup dropped their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Evercore ISI dropped their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. BTIG Research dropped their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Scotiabank started coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.80.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,498 shares of company stock worth $90,105 in the last 90 days. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Price Performance

NASDAQ EXAS traded up $1.52 on Friday, hitting $46.36. 2,298,536 shares of the company were exchanged, compared to its average volume of 2,646,851. The firm has a 50 day moving average of $47.11 and a two-hundred day moving average of $58.55. The company has a market cap of $8.55 billion, a P/E ratio of -35.12 and a beta of 1.22. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $100.77.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $637.52 million for the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. On average, equities analysts predict that Exact Sciences Co. will post -1.15 EPS for the current year.

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.