Channel Wealth LLC Sells 8,712 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Channel Wealth LLC trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 23.6% in the 4th quarter, Holdings Channel reports. The firm owned 28,274 shares of the medical research company’s stock after selling 8,712 shares during the quarter. Channel Wealth LLC’s holdings in Exact Sciences were worth $1,589,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EXAS. Huntington National Bank boosted its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences in the third quarter valued at approximately $35,000. Vestor Capital LLC bought a new position in Exact Sciences in the third quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC purchased a new position in Exact Sciences during the 3rd quarter worth $47,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EXAS shares. Bank of America cut their price target on Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Sanford C. Bernstein increased their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Craig Hallum dropped their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $72.94.

Exact Sciences Trading Down 5.8 %

Exact Sciences stock opened at $50.44 on Friday. 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 stock has a 50-day moving average price of $57.14 and a 200 day moving average price of $58.97.

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

Insider Transactions at Exact Sciences

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

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.