Beech Hill Advisors Inc. Sells 11,383 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Beech Hill Advisors Inc. decreased its stake in Exact Sciences Co. (NASDAQ:EXAS) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,435 shares of the medical research company’s stock after selling 11,383 shares during the period. Beech Hill Advisors Inc.’s holdings in Exact Sciences were worth $2,609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of Exact Sciences in the 2nd quarter worth approximately $160,000. Quest Partners LLC raised its stake in shares of Exact Sciences by 907.7% in the second quarter. Quest Partners LLC now owns 2,237 shares of the medical research company’s stock valued at $95,000 after buying an additional 2,015 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Exact Sciences by 3.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 59,891 shares of the medical research company’s stock valued at $2,680,000 after buying an additional 1,775 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Exact Sciences by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,784 shares of the medical research company’s stock worth $42,389,000 after acquiring an additional 108,296 shares during the period. Finally, Primecap Management Co. CA increased its holdings in Exact Sciences by 3.5% in the 2nd quarter. Primecap Management Co. CA now owns 496,300 shares of the medical research company’s stock worth $20,969,000 after acquiring an additional 17,000 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EXAS has been the topic of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Monday. Craig Hallum cut their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Bank of America dropped their price objective on Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, December 13th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Trading Down 3.1 %

Shares of Exact Sciences stock traded down $1.68 during midday trading on Thursday, reaching $51.84. 156,431 shares of the company’s stock traded hands, compared to its average volume of 2,184,990. The company has a market cap of $9.59 billion, a PE ratio of -44.31 and a beta of 1.24. The stock has a 50 day moving average of $57.20 and a 200-day moving average of $59.03. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is owned by company insiders.

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.