Landscape Capital Management L.L.C. Boosts Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Landscape Capital Management L.L.C. raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,491 shares of the medical research company’s stock after acquiring an additional 2,265 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Exact Sciences were worth $1,805,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Huntington National Bank increased its holdings in shares of 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 purchasing an additional 352 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the 2nd quarter worth $29,000. Capital Performance Advisors LLP purchased a new position in shares of Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC acquired a new position in shares of Exact Sciences during the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $47,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EXAS shares. Benchmark cut their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Craig Hallum dropped their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group decreased their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Piper Sandler dropped their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin T. Conroy acquired 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $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.

Exact Sciences Stock Up 1.3 %

Exact Sciences stock opened at $53.39 on Friday. The stock’s fifty day moving average is $65.04 and its two-hundred day moving average is $55.98. The stock has a market cap of $9.88 billion, a PE ratio of -45.63 and a beta of 1.27. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts expect that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

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.