KLP Kapitalforvaltning AS Cuts Stake in Exact Sciences Corporation $EXAS

KLP Kapitalforvaltning AS reduced its position in Exact Sciences Corporation (NASDAQ:EXAS) by 40.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 38,400 shares of the medical research company’s stock after selling 26,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Exact Sciences were worth $2,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EXAS. Larson Financial Group LLC grew its holdings in Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service grew its holdings in Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new position in Exact Sciences in the first quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences in the first quarter worth $34,000. Finally, Banque Cantonale Vaudoise purchased a new position in Exact Sciences in the first quarter worth $34,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on EXAS. Zacks Research raised shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Royal Bank Of Canada cut their price target on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. UBS Group cut their price target on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $68.00 price objective on shares of Exact Sciences in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.19.

Insider Transactions at Exact Sciences

In related news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director directly owned 57,962 shares in the company, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Exact Sciences Price Performance

Shares of EXAS opened at $58.34 on Monday. The firm has a market capitalization of $11.04 billion, a PE ratio of -10.74, a price-to-earnings-growth ratio of 5.39 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83. The company’s fifty day moving average price is $50.68 and its 200-day moving average price is $50.58.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. The firm had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, equities research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current year.

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.