ARK Investment Management LLC Has $446.31 Million Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

ARK Investment Management LLC cut its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 3.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,032,893 shares of the medical research company’s stock after selling 248,038 shares during the quarter. Exact Sciences comprises 2.6% of ARK Investment Management LLC’s holdings, making the stock its 13th biggest position. ARK Investment Management LLC owned approximately 3.34% of Exact Sciences worth $446,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EXAS. True Wealth Design LLC bought a new position in shares of Exact Sciences during the 4th quarter worth approximately $30,000. Wolff Wiese Magana LLC grew its holdings in shares of 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 acquiring an additional 340 shares in the last quarter. KB Financial Partners LLC bought a new position in shares of Exact Sciences in the 2nd quarter valued at about $32,000. BluePath Capital Management LLC bought a new position in shares of Exact Sciences in the 3rd quarter valued at about $33,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Exact Sciences in the 3rd quarter valued at about $34,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Up 2.5 %

NASDAQ EXAS opened at $66.88 on Thursday. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. Exact Sciences Co. has a 1-year low of $56.05 and a 1-year high of $100.77. The company has a 50 day moving average of $61.72 and a 200-day moving average of $65.37.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data 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 business had revenue of $646.89 million for the quarter, compared to analysts’ expectations of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.72) earnings per share. As a group, equities research analysts expect that Exact Sciences Co. will post -0.92 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy sold 14,791 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 $908,611.13. Following the sale, the chief executive officer now owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Exact Sciences news, insider Jacob A. Orville sold 2,154 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.32, for a total transaction of $127,775.28. Following the sale, the insider now owns 14,324 shares of the company’s stock, valued at $849,699.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy sold 14,791 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $908,611.13. Following the sale, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The disclosure for this sale can be found here. Insiders have sold 67,992 shares of company stock valued at $4,096,879 over the last three months. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group decreased their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Guggenheim started coverage on Exact Sciences in a report on Thursday, December 14th. They issued a “buy” rating and a $90.00 price objective for the company. TheStreet downgraded shares of Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Wolfe Research started coverage on shares of Exact Sciences in a research note on Wednesday, December 13th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $99.31.

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.