Exact Sciences Corporation $EXAS Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC boosted its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 54.8% during the second quarter, Holdings Channel reports. The institutional investor owned 11,627 shares of the medical research company’s stock after buying an additional 4,116 shares during the period. Magnetar Financial LLC’s holdings in Exact Sciences were worth $620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in Exact Sciences during the second quarter worth approximately $3,716,000. Teacher Retirement System of Texas boosted its holdings in shares of Exact Sciences by 640.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 200,397 shares of the medical research company’s stock valued at $10,649,000 after purchasing an additional 173,343 shares during the last quarter. Gagnon Securities LLC grew its stake in shares of Exact Sciences by 3.0% during the 2nd quarter. Gagnon Securities LLC now owns 278,789 shares of the medical research company’s stock valued at $14,815,000 after buying an additional 8,125 shares during the period. Woodline Partners LP grew its stake in shares of Exact Sciences by 62.0% during the 1st quarter. Woodline Partners LP now owns 537,863 shares of the medical research company’s stock valued at $23,284,000 after buying an additional 205,875 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its holdings in shares of Exact Sciences by 27.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 163,204 shares of the medical research company’s stock worth $8,673,000 after buying an additional 34,914 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold 9,858 shares of company stock valued at $695,289 in the last quarter. Company insiders own 1.20% of the company’s stock.

Exact Sciences Stock Performance

Exact Sciences stock opened at $101.01 on Tuesday. The firm has a market capitalization of $19.14 billion, a PE ratio of -18.60, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $101.87. The stock’s 50 day moving average price is $63.80 and its 200 day moving average price is $55.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same quarter last year, the company earned ($0.21) earnings per share. Exact Sciences’s revenue for the quarter was up 20.0% on a year-over-year basis. Exact Sciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXAS. Leerink Partnrs cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Cowen downgraded Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $105.00 target price (up previously from $90.00) on shares of Exact Sciences in a report on Monday. Royal Bank Of Canada dropped their target price on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a research report on Thursday, August 7th. Finally, Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Hold” and an average price target of $83.61.

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.