Exact Sciences Corporation $EXAS Shares Sold by Swiss National Bank

Swiss National Bank decreased its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 32.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,380 shares of the medical research company’s stock after selling 167,500 shares during the quarter. Swiss National Bank owned about 0.19% of Exact Sciences worth $18,832,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXAS. Y Intercept Hong Kong Ltd acquired a new stake in shares of Exact Sciences during the 2nd quarter valued at about $3,716,000. Teacher Retirement System of Texas lifted its position in shares of Exact Sciences by 640.7% during 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 buying an additional 173,343 shares in the last quarter. Gagnon Securities LLC grew its stake in Exact Sciences by 3.0% in the 2nd quarter. Gagnon Securities LLC now owns 278,789 shares of the medical research company’s stock valued at $14,815,000 after acquiring an additional 8,125 shares during the period. Woodline Partners LP increased its holdings in Exact Sciences by 62.0% in the 1st quarter. Woodline Partners LP now owns 537,863 shares of the medical research company’s stock worth $23,284,000 after acquiring an additional 205,875 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position 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 purchasing an additional 34,914 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 0.3%

EXAS opened at $101.45 on Thursday. The stock has a market capitalization of $19.22 billion, a PE ratio of -18.68, a P/E/G 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 company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The business’s 50 day moving average price is $65.74 and its 200 day moving average price is $56.47.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EXAS. Craig Hallum cut shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, November 21st. Jefferies Financial Group cut shares of Exact Sciences from a “buy” rating to a “hold” rating and upped their price objective for the company from $90.00 to $105.00 in a research note on Monday. Stifel Nicolaus raised their target price on shares of Exact Sciences from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wall Street Zen cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Royal Bank Of Canada cut their price target on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of “Hold” and an average price target of $83.61.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction dated Tuesday, November 4th. The shares were 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 the SEC website. Also, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director owned 57,962 shares in the company, valued at approximately $3,477,720. This represents a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,858 shares of company stock valued at $695,289 over the last 90 days. 1.20% of the stock is owned by company insiders.

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.