Exact Sciences Co. (NASDAQ:EXAS) Holdings Lifted by M&T Bank Corp

M&T Bank Corp grew its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 43.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,256 shares of the medical research company’s stock after purchasing an additional 2,806 shares during the quarter. M&T Bank Corp’s holdings in Exact Sciences were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC bought a new position in Exact Sciences in the 2nd quarter valued at about $163,896,000. Champlain Investment Partners LLC boosted its holdings in shares of Exact Sciences by 10.9% in the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after acquiring an additional 245,980 shares in the last quarter. Bellevue Group AG boosted its holdings in shares of Exact Sciences by 25.1% in the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after acquiring an additional 290,585 shares in the last quarter. Armistice Capital LLC increased its stake in shares of Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after acquiring an additional 669,438 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Exact Sciences by 19.0% during the second quarter. Principal Financial Group Inc. now owns 1,303,887 shares of the medical research company’s stock worth $55,089,000 after purchasing an additional 208,641 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EXAS shares. Robert W. Baird decreased their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group lowered their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. BTIG Research upped their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Sanford C. Bernstein increased their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.94.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $60.37 on Wednesday. The stock’s fifty day simple moving average is $62.40 and its 200-day simple moving average is $57.08. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of -51.60 and a beta of 1.24. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts predict that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Exact Sciences Company 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.