Sanders Morris Harris LLC Makes New Investment in Exact Sciences Corporation $EXAS

Sanders Morris Harris LLC purchased a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the medical research company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after purchasing an additional 643,631 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Exact Sciences by 120.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock worth $135,453,000 after acquiring an additional 1,707,287 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Exact Sciences during the second quarter worth approximately $157,805,000. Champlain Investment Partners LLC raised its stake in Exact Sciences by 12.6% during the second quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock worth $134,435,000 after purchasing an additional 282,825 shares during the period. Finally, Holocene Advisors LP boosted its holdings in shares of Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EXAS shares. Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target on the stock. in a report on Monday, November 24th. Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. BTIG Research downgraded Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Wolfe Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, William Blair downgraded Exact Sciences from an “outperform” rating to a “market perform” rating in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Exact Sciences currently has a consensus rating of “Hold” and a consensus target price of $85.00.

Exact Sciences Stock Down 0.1%

Shares of NASDAQ:EXAS opened at $101.61 on Thursday. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of -19.10, a price-to-earnings-growth ratio of 12.55 and a beta of 1.42. The company’s fifty day moving average is $79.64 and its two-hundred day moving average is $61.19. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $101.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The business had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. During the same quarter last year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the sale, the executive vice president owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director owned 57,962 shares in the company, valued at $3,477,720. This trade represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 9,858 shares of company stock worth $695,289. Company insiders own 1.20% 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.