419,959 Shares in Exact Sciences Co. (NASDAQ:EXAS) Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, HoldingsChannel.com reports. The fund acquired 419,959 shares of the medical research company’s stock, valued at approximately $28,608,000.

Other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its stake in shares of Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares in the last quarter. Amalgamated Bank boosted its position in shares of Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after acquiring an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 340 shares during the last quarter. Huntington National Bank raised its position in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Exact Sciences by 6.2% during the second quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after purchasing an additional 356 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 0.6 %

Shares of NASDAQ:EXAS opened at $62.08 on Monday. The company has a market cap of $11.49 billion, a price-to-earnings ratio of -53.06 and a beta of 1.27. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm’s 50-day simple moving average is $63.85 and its 200-day simple moving average is $56.03. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to analyst estimates 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 for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts predict that Exact Sciences Co. will post -1.13 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen increased their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI reduced their price target on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Benchmark dropped their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their target price on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average target price of $75.29.

Insider Buying and Selling

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by corporate insiders.

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.