Theory Financial LLC Makes New $274,000 Investment in Exact Sciences Corporation $EXAS

Theory Financial LLC acquired a new stake in Exact Sciences Corporation (NASDAQ:EXAS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,007 shares of the medical research company’s stock, valued at approximately $274,000.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in Exact Sciences in the 2nd quarter valued at $157,805,000. Holocene Advisors LP grew its holdings in shares of Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after acquiring an additional 1,404,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Exact Sciences by 643.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after acquiring an additional 1,113,459 shares during the last quarter. Norges Bank bought a new stake in Exact Sciences during the second quarter worth about $48,372,000. Finally, AQR Capital Management LLC boosted its position in Exact Sciences by 73.3% during the second quarter. AQR Capital Management LLC now owns 1,753,283 shares of the medical research company’s stock valued at $93,169,000 after purchasing an additional 741,517 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Guggenheim lowered Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Leerink Partnrs cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Evercore ISI set a $105.00 target price on shares of Exact Sciences and gave the stock an “in-line” rating in a report on Monday, January 5th. Robert W. Baird set a $105.00 price target on shares of Exact Sciences in a research note on Thursday, November 20th. Finally, Craig Hallum downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.06.

Insider Activity at Exact Sciences

In other news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Baranick sold 2,858 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value 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 represents a 11.33% decrease in their position. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Stock Up 0.1%

EXAS stock opened at $102.43 on Friday. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $102.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of -19.25, a PEG ratio of 2.42 and a beta of 1.40. The business’s fifty day moving average price is $96.52 and its two-hundred day moving average price is $68.59.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The company had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. During the same quarter in the previous year, the business posted ($0.21) earnings per share. Exact Sciences’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Exact Sciences 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.