Los Angeles Capital Management LLC Increases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)


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Los Angeles Capital Management LLC boosted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 115.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,713 shares of the medical research company’s stock after acquiring an additional 3,592 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Exact Sciences were worth $889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. City Holding Co. acquired a new stake in Exact Sciences during the 4th quarter worth about $26,000. Wolff Wiese Magana LLC acquired a new stake in Exact Sciences during the 4th quarter worth about $34,000. Baldwin Brothers Inc. MA acquired a new stake in Exact Sciences during the 4th quarter worth about $46,000. NuWave Investment Management LLC lifted its position in Exact Sciences by 2,143.8% during the 4th quarter. NuWave Investment Management LLC now owns 359 shares of the medical research company’s stock worth $48,000 after acquiring an additional 343 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in Exact Sciences during the 4th quarter worth about $53,000. 90.39% of the stock is owned by institutional investors.

NASDAQ:EXAS opened at $142.32 on Tuesday. Exact Sciences Co. has a 12 month low of $35.25 and a 12 month high of $159.54. The stock has a 50 day moving average of $143.72 and a two-hundred day moving average of $115.91. The company has a current ratio of 6.35, a quick ratio of 6.04 and a debt-to-equity ratio of 0.68. The firm has a market cap of $24.07 billion, a P/E ratio of -64.40 and a beta of 1.64.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, February 15th. The medical research company reported ($2.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($2.60). Exact Sciences had a negative return on equity of 11.71% and a negative net margin of 25.27%. On average, research analysts forecast that Exact Sciences Co. will post -1.56 earnings per share for the current year.

A number of brokerages have commented on EXAS. Truist began coverage on Exact Sciences in a research report on Wednesday, January 27th. They set a “buy” rating and a $226.00 price target for the company. Stifel Nicolaus boosted their price objective on Exact Sciences from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, February 17th. SVB Leerink boosted their price objective on Exact Sciences from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, February 17th. Oppenheimer boosted their price objective on Exact Sciences from $115.00 to $150.00 in a report on Wednesday, October 28th. Finally, Smith Barney Citigroup cut Exact Sciences from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $120.00 to $140.00 in a report on Wednesday, October 28th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $142.47.

In other news, CEO Kevin T. Conroy sold 31,814 shares of the company’s stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $128.74, for a total value of $4,095,734.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy sold 30,577 shares of the company’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $124.56, for a total value of $3,808,671.12. Following the completion of the sale, the chief executive officer now owns 886,295 shares of the company’s stock, valued at $110,396,905.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,087 shares of company stock valued at $10,788,778. 1.80% 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, a gene expression tests for breast, prostate, and colon cancers; Oncotype MAP, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; and Covid-19 testing services.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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