QRG Capital Management Inc. Has $641,000 Holdings in Exact Sciences Corporation $EXAS

QRG Capital Management Inc. cut its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 77.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,713 shares of the medical research company’s stock after selling 39,745 shares during the period. QRG Capital Management Inc.’s holdings in Exact Sciences were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC raised its position in shares of Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after purchasing an additional 533 shares during the period. Country Trust Bank acquired a new position in shares of Exact Sciences in the 2nd quarter valued at approximately $32,000. Bessemer Group Inc. increased its stake in Exact Sciences by 1,980.6% during the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after purchasing an additional 614 shares in the last quarter. Parallel Advisors LLC raised its holdings in Exact Sciences by 120.1% during the 2nd quarter. Parallel Advisors LLC now owns 799 shares of the medical research company’s stock worth $42,000 after buying an additional 436 shares during the period. Finally, Quent Capital LLC bought a new position in Exact Sciences in the third quarter valued at approximately $48,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EXAS shares. Barclays reissued an “equal weight” rating and set a $105.00 price objective (up previously from $77.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. William Blair lowered Exact Sciences from an “outperform” rating to a “market perform” rating in a report on Thursday, November 20th. BTIG Research downgraded Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Exact Sciences in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Exact Sciences presently has an average rating of “Hold” and an average price target of $89.56.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $102.48 on Thursday. Exact Sciences Corporation has a 52-week low of $38.81 and a 52-week high of $102.66. The company has a market cap of $19.55 billion, a P/E ratio of -19.26, a P/E/G ratio of 2.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. The stock’s 50-day simple moving average is $98.61 and its 200 day simple moving average is $69.63.

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

Insider Buying and Selling at Exact Sciences

In related news, EVP Jacob A. Orville sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the executive vice president directly owned 23,237 shares in the company, valued at approximately $1,742,775. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total transaction of $200,288.64. Following the sale, 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 disclosure for this sale is available in the SEC filing. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Company 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.