Quantum Private Wealth LLC Sells 700 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Quantum Private Wealth LLC decreased its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,274 shares of the medical research company’s stock after selling 700 shares during the quarter. Exact Sciences comprises about 1.4% of Quantum Private Wealth LLC’s portfolio, making the stock its 13th biggest position. Quantum Private Wealth LLC’s holdings in Exact Sciences were worth $4,242,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EXAS. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after acquiring an additional 12,349 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares during the last quarter. Profund Advisors LLC raised its stake in Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after acquiring an additional 55,459 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Exact Sciences in the 2nd quarter worth $163,896,000. Finally, Swedbank AB purchased a new position in Exact Sciences in the 1st quarter worth $2,719,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the firm’s 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 $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is owned by insiders.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $53.38 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The stock’s 50-day moving average is $66.96 and its two-hundred day moving average is $56.63. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of -55.45 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EXAS shares. The Goldman Sachs Group reduced their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. TD Cowen cut their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Sanford C. Bernstein upped their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Benchmark lowered their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.06.

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.