Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 79.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,005 shares of the medical research company’s stock after selling 26,980 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Exact Sciences were worth $394,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in EXAS. Eagle Wealth Strategies LLC boosted its stake in shares of Exact Sciences by 25.0% during the 4th quarter. Eagle Wealth Strategies LLC now owns 5,000 shares of the medical research company’s stock worth $281,000 after acquiring an additional 1,000 shares in the last quarter. Artemis Investment Management LLP raised its holdings in Exact Sciences by 139.6% during the fourth quarter. Artemis Investment Management LLP now owns 255,842 shares of the medical research company’s stock worth $14,376,000 after purchasing an additional 149,067 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Exact Sciences during the fourth quarter worth $327,000. Merit Financial Group LLC acquired a new stake in Exact Sciences in the fourth quarter valued at $235,000. Finally, Avanza Fonder AB purchased a new position in shares of Exact Sciences in the fourth quarter valued at $1,096,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 0.6 %

Shares of EXAS stock opened at $55.13 on Friday. The firm’s 50-day simple moving average is $57.41 and its 200-day simple moving average is $59.32. 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 Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The firm has a market cap of $10.20 billion, a P/E ratio of -47.12 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Exact Sciences Co. will post -1.1 EPS for the current year.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXAS. Bank of America decreased their price objective on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Sanford C. Bernstein upped their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Piper Sandler cut their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, TD Cowen increased their target price on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.76.

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.