Sheaff Brock Investment Advisors LLC Takes $225,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the third quarter, according to its most recent filing with the SEC. The fund acquired 3,300 shares of the medical research company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXAS. Huntington National Bank raised its stake 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 valued at $27,000 after purchasing an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences during the 2nd quarter valued at $29,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $35,000. Vestor Capital LLC bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences in the 3rd quarter worth about $47,000. 88.82% of the stock is currently owned by institutional investors.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. This represents a 6.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value 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 position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by company insiders.

Exact Sciences Trading Down 3.1 %

Shares of EXAS stock opened at $49.33 on Friday. The stock has a market capitalization of $9.13 billion, a PE ratio of -42.16 and a beta of 1.27. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The business has a 50-day moving average of $65.83 and a 200 day moving average of $56.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BTIG Research decreased their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Evercore ISI decreased their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $74.47.

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.