Goldstein Advisors LLC Decreases Stake in Exact Sciences Co. (NASDAQ:EXAS)

Goldstein Advisors LLC reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 11.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,731 shares of the medical research company’s stock after selling 726 shares during the quarter. Goldstein Advisors LLC’s holdings in Exact Sciences were worth $322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Exact Sciences by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after buying an additional 7,873 shares during the period. Champlain Investment Partners LLC increased its holdings in Exact Sciences by 10.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after buying an additional 245,980 shares during the period. Bellevue Group AG increased its holdings in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after buying an additional 290,585 shares during the period. Armistice Capital LLC increased its holdings in Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after buying an additional 669,438 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Exact Sciences by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after buying an additional 45,015 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Exact Sciences stock opened at $54.79 on Thursday. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $57.32 and its 200 day simple moving average is $59.35. The firm has a market capitalization of $10.14 billion, a PE ratio of -46.83 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts predict that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays initiated coverage on shares of Exact Sciences in a research note on Thursday. They set an “overweight” rating and a $70.00 price objective on the stock. Evercore ISI dropped their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group dropped their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.76.

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.