BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 778 Shares of Exact Sciences Co. (NASDAQ:EXAS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in Exact Sciences Co. (NASDAQ:EXAS) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,043 shares of the medical research company’s stock after selling 778 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Exact Sciences were worth $3,432,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EXAS. International Assets Investment Management LLC increased its stake in Exact Sciences by 6.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,184 shares of the medical research company’s stock valued at $554,000 after buying an additional 237 shares during the last quarter. Columbus Circle Investors acquired a new position in Exact Sciences during the fourth quarter valued at approximately $28,257,000. JGP Global Gestao de Recursos Ltda. increased its position in shares of Exact Sciences by 3.4% during the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 3,487 shares of the medical research company’s stock worth $462,000 after purchasing an additional 114 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Exact Sciences by 0.9% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 96,263 shares of the medical research company’s stock worth $12,686,000 after purchasing an additional 880 shares in the last quarter. Finally, Scout Investments Inc. acquired a new stake in shares of Exact Sciences in the 1st quarter valued at approximately $19,536,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

In related news, CEO Kevin T. Conroy sold 16,420 shares of Exact Sciences stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $136.30, for a total transaction of $2,238,046.00. Following the sale, the chief executive officer now directly owns 826,785 shares of the company’s stock, valued at approximately $112,690,795.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin T. Conroy sold 19,240 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $131.09, for a total transaction of $2,522,171.60. Following the completion of the sale, the chief executive officer now owns 776,736 shares in the company, valued at approximately $101,822,322.24. The disclosure for this sale can be found here. Insiders have sold 79,668 shares of company stock valued at $10,636,957 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

A number of brokerages have recently commented on EXAS. BTIG Research decreased their price objective on shares of Exact Sciences from $175.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, May 5th. Craig Hallum reduced their target price on Exact Sciences from $161.00 to $144.00 and set a “buy” rating for the company in a research note on Wednesday, May 5th. Stifel Nicolaus increased their price target on Exact Sciences from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, February 17th. SVB Leerink decreased their price objective on shares of Exact Sciences from $180.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Cowen lifted their target price on shares of Exact Sciences from $154.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, February 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $152.94.

EXAS opened at $96.11 on Thursday. The stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of -43.49 and a beta of 1.64. The company has a quick ratio of 6.04, a current ratio of 6.35 and a debt-to-equity ratio of 0.68. Exact Sciences Co. has a twelve month low of $70.75 and a twelve month high of $159.54. The company has a 50-day simple moving average of $126.07 and a 200 day simple moving average of $131.32.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, May 3rd. The medical research company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.86. The company had revenue of $402.10 million during the quarter, compared to analysts’ expectations of $394.66 million. Exact Sciences had a negative net margin of 25.27% and a negative return on equity of 11.71%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.71) EPS. Sell-side analysts anticipate that Exact Sciences Co. will post -1.56 EPS for the current fiscal year.

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, a gene expression tests for breast, prostate, and colon cancers; Oncotype MAP, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; and Covid-19 testing services.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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