Baillie Gifford & Co. Has $36.04 Million Position in Exact Sciences Corporation (NASDAQ:EXAS)

Baillie Gifford & Co. lessened its position in Exact Sciences Corporation (NASDAQ:EXAS) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 832,568 shares of the medical research company’s stock after selling 180,159 shares during the period. Baillie Gifford & Co. owned approximately 0.44% of Exact Sciences worth $36,042,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after buying an additional 589 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences in the first quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Exact Sciences during the fourth quarter worth about $45,000. Ostrum Asset Management lifted its holdings in shares of Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company’s stock valued at $134,000 after purchasing an additional 527 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Exact Sciences by 14.3% in the 1st quarter. Allworth Financial LP now owns 2,986 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 373 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Exact Sciences

In other news, Director Katherine S. Zanotti sold 3,207 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the sale, the director directly owned 72,759 shares of the company’s stock, valued at approximately $3,870,778.80. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on EXAS shares. Barclays dropped their target price on shares of Exact Sciences from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, June 24th. Evercore ISI boosted their price objective on shares of Exact Sciences from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Mizuho started coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price target on the stock. Finally, Robert W. Baird boosted their price target on Exact Sciences from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $48.49 on Friday. Exact Sciences Corporation has a 52-week low of $39.97 and a 52-week high of $72.83. The stock has a fifty day moving average of $53.71 and a 200 day moving average of $50.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of -8.80, a P/E/G ratio of 10.41 and a beta of 0.95.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million for the quarter, compared to analysts’ expectations of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.60) EPS. On average, research analysts expect that Exact Sciences Corporation will post -0.58 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 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.