Los Angeles Capital Management LLC Takes Position in Exact Sciences Co. (NASDAQ:EXAS)

Los Angeles Capital Management LLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 62,062 shares of the medical research company’s stock, valued at approximately $4,228,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXAS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Exact Sciences by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after acquiring an additional 12,349 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after buying an additional 10,356 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after buying an additional 55,459 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Exact Sciences during the 2nd quarter valued at $163,896,000. Finally, Swedbank AB bought a new stake in shares of Exact Sciences during the 1st quarter worth $2,719,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $50.16 on Wednesday. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of -42.87 and a beta of 1.27. The stock has a fifty day moving average of $66.35 and a 200 day moving average of $56.34. 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 1.98, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts expect that Exact Sciences Co. will post -1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXAS has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. BTIG Research cut their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Benchmark decreased their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler cut their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Insider Buying and Selling at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the firm’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 value of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Exact Sciences Company Profile

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.