Victory Capital Management Inc. Raises Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Victory Capital Management Inc. raised its stake in shares of Exact Sciences Co. (NASDAQ:EXASFree Report) by 47.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 750,228 shares of the medical research company’s stock after buying an additional 239,840 shares during the quarter. Victory Capital Management Inc.’s holdings in Exact Sciences were worth $55,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXAS. Artisan Partners Limited Partnership boosted its holdings in shares of Exact Sciences by 11.8% in the third 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 last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Exact Sciences by 11.5% during the 4th 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 last quarter. Jennison Associates LLC grew its position in shares of Exact Sciences by 94.0% during the 4th 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 during the period. Northern Trust Corp increased its stake in shares of Exact Sciences by 5.4% in the 3rd quarter. Northern Trust Corp now owns 1,128,376 shares of the medical research company’s stock worth $76,978,000 after purchasing an additional 57,423 shares in the last quarter. Finally, Rock Springs Capital Management LP increased its stake in shares of 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 owned by institutional investors.

Exact Sciences Stock Up 2.5 %

Shares of NASDAQ EXAS opened at $62.07 on Friday. Exact Sciences Co. has a 52-week low of $56.05 and a 52-week high of $100.77. 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 firm’s fifty day moving average is $63.37 and its two-hundred day moving average is $64.75.

Exact Sciences (NASDAQ:EXASGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The company had revenue of $646.89 million for the quarter, compared to analysts’ expectations of $638.83 million. During the same quarter in the previous year, the business posted ($0.72) earnings per share. Exact Sciences’s quarterly revenue was up 17.0% on a year-over-year basis. On average, analysts forecast that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on EXAS. TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Citigroup restated a “buy” rating and set a $100.00 target price on shares of Exact Sciences in a research note on Wednesday, April 3rd. Finally, Canaccord Genuity Group lowered their price target 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. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $97.44.

Read Our Latest Report on Exact Sciences

Insider Transactions at Exact Sciences

In related news, insider Jacob A. Orville sold 1,879 shares of Exact Sciences stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total transaction of $106,896.31. Following the completion of the transaction, the insider now directly owns 11,754 shares of the company’s stock, valued at approximately $668,685.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacob A. Orville sold 1,879 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $56.89, for a total transaction of $106,896.31. Following the completion of the transaction, the insider now owns 11,754 shares in the company, valued at $668,685.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,611 shares of company stock worth $4,255,377. 1.30% of the stock is currently owned by company insiders.

Exact Sciences Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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