RWC Asset Management LLP Buys Shares of 6,352 Exact Sciences Corporation $EXAS

RWC Asset Management LLP purchased a new position in Exact Sciences Corporation (NASDAQ:EXAS) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 6,352 shares of the medical research company’s stock, valued at approximately $348,000.

A number of other hedge funds also recently modified their holdings of the business. True Wealth Design LLC grew its position in shares of Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 533 shares during the period. Country Trust Bank bought a new position in Exact Sciences in the second quarter valued at approximately $32,000. Bessemer Group Inc. lifted its stake in Exact Sciences by 1,980.6% in the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after buying an additional 614 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Exact Sciences by 120.1% in the second quarter. Parallel Advisors LLC now owns 799 shares of the medical research company’s stock valued at $42,000 after buying an additional 436 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Exact Sciences by 37.0% during the second quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company’s stock worth $54,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Monday, November 24th. Canaccord Genuity Group cut Exact Sciences from a “buy” rating to a “hold” rating and increased their target price for the stock from $85.00 to $105.00 in a report on Tuesday, November 25th. Baird R W downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $105.00 price objective (up from $80.00) on shares of Exact Sciences in a research report on Friday, November 28th. Finally, Cowen downgraded Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Hold” and a consensus target price of $87.06.

Exact Sciences Stock Up 0.1%

Shares of EXAS stock opened at $102.23 on Tuesday. The firm’s fifty day moving average price is $93.78 and its two-hundred day moving average price is $67.33. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $102.66. The firm has a market capitalization of $19.37 billion, a P/E ratio of -19.22, a PEG ratio of 2.41 and a beta of 1.40.

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

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president directly owned 22,368 shares in the company, valued at $1,567,549.44. This trade represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jacob A. Orville sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the transaction, the executive vice president directly owned 23,237 shares in the company, valued at $1,742,775. This trade represents a 17.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by company insiders.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.