Brighton Jones LLC Takes Position in Exact Sciences Corporation $EXAS

Brighton Jones LLC acquired a new stake in Exact Sciences Corporation (NASDAQ:EXAS) in the second quarter, Holdings Channel reports. The firm acquired 6,882 shares of the medical research company’s stock, valued at approximately $366,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its holdings in Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 589 shares during the period. National Pension Service increased its stake in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after buying an additional 292 shares during the period. SVB Wealth LLC acquired a new stake in shares of Exact Sciences in the first quarter valued at about $30,000. Banque Cantonale Vaudoise acquired a new stake in shares of Exact Sciences in the first quarter valued at about $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Exact Sciences in the first quarter valued at about $34,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $63.22 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The company has a market cap of $11.97 billion, a price-to-earnings ratio of -11.64, a price-to-earnings-growth ratio of 5.56 and a beta of 1.24. The firm has a 50 day moving average of $55.61 and a 200-day moving average of $52.37. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $72.83.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.24. The business had revenue of $811.09 million during the quarter, compared to analysts’ expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. On average, equities analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Activity at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares in the company, valued at $3,477,720. This trade represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXAS shares. Barclays increased their target price on shares of Exact Sciences from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BTIG Research increased their price objective on shares of Exact Sciences from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company set a $68.00 price objective on shares of Exact Sciences in a research report on Wednesday, October 1st. UBS Group decreased their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Craig Hallum increased their price target on Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.90.

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.