Exact Sciences Corporation $EXAS Stock Holdings Lowered by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV reduced its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,333 shares of the medical research company’s stock after selling 592 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Exact Sciences were worth $815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC raised its holdings in shares of Exact Sciences by 96.9% in the 2nd quarter. CWM LLC now owns 41,978 shares of the medical research company’s stock worth $2,231,000 after purchasing an additional 20,662 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Exact Sciences by 22.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,796 shares of the medical research company’s stock worth $839,000 after purchasing an additional 2,853 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Exact Sciences by 15.6% in the 2nd quarter. Aberdeen Group plc now owns 199,471 shares of the medical research company’s stock worth $10,600,000 after purchasing an additional 26,906 shares in the last quarter. JB Capital LLC purchased a new position in shares of Exact Sciences in the second quarter worth approximately $1,165,000. Finally, IFP Advisors Inc increased its position in shares of Exact Sciences by 6.5% in the second quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company’s stock worth $237,000 after acquiring an additional 273 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Price Performance

NASDAQ EXAS opened at $59.36 on Tuesday. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $11.24 billion, a PE ratio of -10.93, a price-to-earnings-growth ratio of 5.39 and a beta of 1.24. The company has a 50 day moving average price of $50.93 and a two-hundred day moving average price of $50.69. Exact Sciences Corporation has a 12-month low of $38.81 and a 12-month high of $72.83.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. The firm had revenue of $811.09 million during the quarter, compared to analysts’ expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, equities analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares in the company, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EXAS shares. BTIG Research dropped their target price on shares of Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company set a $68.00 target price on shares of Exact Sciences in a research report on Wednesday, October 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a research report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Exact Sciences in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Exact Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.19.

Exact Sciences 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.