Goldstein Advisors LLC Boosts Stake in Exact Sciences Corporation (NASDAQ:EXAS)

Goldstein Advisors LLC increased its position in Exact Sciences Corporation (NASDAQ:EXAS) by 113.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,254 shares of the medical research company’s stock after buying an additional 6,523 shares during the period. Goldstein Advisors LLC’s holdings in Exact Sciences were worth $530,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its stake in shares of Exact Sciences by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Exact Sciences by 2.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after buying an additional 300 shares during the last quarter. Integrated Advisors Network LLC grew its stake in shares of Exact Sciences by 5.7% during the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company’s stock valued at $305,000 after buying an additional 379 shares during the last quarter. Curi RMB Capital LLC grew its stake in shares of Exact Sciences by 1.7% during the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company’s stock valued at $1,399,000 after buying an additional 428 shares during the last quarter. Finally, Patten & Patten Inc. TN grew its stake in shares of Exact Sciences by 1.8% during the fourth quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company’s stock valued at $1,470,000 after buying an additional 460 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 1.5%

Exact Sciences stock opened at $51.92 on Thursday. The business has a fifty day moving average of $52.38 and a two-hundred day moving average of $51.64. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. The firm has a market cap of $9.79 billion, a P/E ratio of -9.42, a P/E/G ratio of 38.85 and a beta of 0.98. Exact Sciences Corporation has a twelve month low of $39.97 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The firm had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. During the same quarter in the prior year, the business posted ($0.60) EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Katherine S. Zanotti sold 3,207 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the transaction, the director now directly owns 72,759 shares of the company’s stock, valued at $3,870,778.80. This represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler cut their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Exact Sciences in a research note on Friday, April 11th. Barclays dropped their price objective on Exact Sciences from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho assumed coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, Evercore ISI increased their price objective on Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $70.40.

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.