GraniteShares Advisors LLC Takes Position in Exact Sciences Co. (NASDAQ:EXAS)

GraniteShares Advisors LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,249 shares of the medical research company’s stock, valued at approximately $462,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Exact Sciences during the fourth quarter worth $47,037,000. Capital World Investors boosted its position in Exact Sciences by 17.2% during the first quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock worth $383,652,000 after purchasing an additional 804,159 shares during the period. Vanguard Group Inc. boosted its position in shares of Exact Sciences by 4.4% in the third quarter. Vanguard Group Inc. now owns 16,676,611 shares of the medical research company’s stock valued at $541,823,000 after acquiring an additional 698,740 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Exact Sciences by 11.8% in the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock valued at $270,254,000 after acquiring an additional 418,770 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of Exact Sciences by 328.3% in the third quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company’s stock valued at $36,852,000 after acquiring an additional 414,059 shares during the period. 88.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of recent research reports. Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. TheStreet cut shares of Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Citigroup reissued a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a research report on Wednesday, April 3rd. Finally, Benchmark raised Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.44.

Insider Activity at Exact Sciences

In related news, insider Jacob A. Orville sold 966 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,341.38. Following the sale, the insider now directly owns 7,488 shares in the company, valued at $459,987.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jacob A. Orville sold 1,879 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $56.89, for a total value of $106,896.31. Following the sale, the insider now directly owns 11,754 shares in the company, valued at $668,685.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacob A. Orville sold 966 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the sale, the insider now owns 7,488 shares in the company, valued at $459,987.84. The disclosure for this sale can be found here. Insiders have sold 69,113 shares of company stock worth $4,165,273 over the last ninety days. Insiders own 1.30% of the company’s stock.

Exact Sciences Trading Up 2.7 %

Exact Sciences stock opened at $65.57 on Wednesday. The business has a 50 day moving average of $63.32 and a 200-day moving average of $65.13. Exact Sciences Co. has a 1 year low of $56.05 and a 1 year high of $100.77. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. During the same quarter in the prior year, the firm posted ($0.72) earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, analysts anticipate that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal year.

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.