Los Angeles Capital Management LLC Acquires New Position in Exact Sciences Co. (NASDAQ:EXAS)

Los Angeles Capital Management LLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,142 shares of the medical research company’s stock, valued at approximately $1,342,000.

A number of other institutional investors have also recently bought and sold shares of EXAS. New York Life Investment Management LLC grew its stake in shares of Exact Sciences by 5.0% during the fourth quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after purchasing an additional 1,014 shares during the period. Victory Capital Management Inc. grew its position in shares of Exact Sciences by 47.0% during the 4th quarter. Victory Capital Management Inc. now owns 750,228 shares of the medical research company’s stock worth $55,502,000 after buying an additional 239,840 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Exact Sciences by 5.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 5,216 shares of the medical research company’s stock valued at $386,000 after acquiring an additional 264 shares during the last quarter. Eagle Wealth Strategies LLC acquired a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $296,000. Finally, Marco Investment Management LLC boosted its stake in Exact Sciences by 1.1% during the 4th quarter. Marco Investment Management LLC now owns 83,285 shares of the medical research company’s stock worth $6,161,000 after acquiring an additional 930 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the sale, the chief executive officer now directly 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 the SEC website. Also, General Counsel James Herriott sold 415 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $61.50, for a total value of $25,522.50. Following the transaction, the general counsel now directly owns 6,943 shares in the company, valued at approximately $426,994.50. The disclosure for this sale can be found here. Insiders have sold 70,611 shares of company stock valued at $4,255,377 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EXAS has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a report on Wednesday, April 3rd. TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Canaccord Genuity Group decreased their target price on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $99.07.

Exact Sciences Stock Down 3.1 %

Exact Sciences stock opened at $59.48 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 fifty day simple moving average of $63.64 and a 200 day simple moving average of $64.66. The company has a market cap of $10.94 billion, a P/E ratio of -52.18 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company had revenue of $646.89 million during the quarter, compared to analysts’ expectations of $638.83 million. During the same quarter last year, the company earned ($0.72) EPS. Exact Sciences’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts anticipate that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal 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.