Connor Clark & Lunn Investment Management Ltd. Buys 115,387 Shares of Exact Sciences Corporation $EXAS

Connor Clark & Lunn Investment Management Ltd. lifted its position in Exact Sciences Corporation (NASDAQ:EXAS) by 15.0% during the 2nd quarter, Holdings Channel reports. The firm owned 884,637 shares of the medical research company’s stock after buying an additional 115,387 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Exact Sciences were worth $47,010,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in Exact Sciences during the first quarter worth about $1,171,000. Allworth Financial LP raised its stake in shares of Exact Sciences by 14.3% in the first quarter. Allworth Financial LP now owns 2,986 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 373 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Exact Sciences by 24.0% in the 1st quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company’s stock worth $1,454,000 after acquiring an additional 6,508 shares in the last quarter. Xponance Inc. grew its position in Exact Sciences by 4.0% during the 1st quarter. Xponance Inc. now owns 24,972 shares of the medical research company’s stock worth $1,081,000 after acquiring an additional 959 shares during the last quarter. Finally, High Note Wealth LLC increased its holdings in Exact Sciences by 225.5% during the 1st quarter. High Note Wealth LLC now owns 10,710 shares of the medical research company’s stock valued at $464,000 after purchasing an additional 7,420 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EXAS. BTIG Research boosted their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group reduced their price target on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Royal Bank Of Canada dropped their target price on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Finally, Barclays upped their target price on shares of Exact Sciences from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.44.

Insider Buying and Selling at Exact Sciences

In related news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares of the company’s stock, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Baranick sold 2,858 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president directly owned 22,368 shares in the company, valued at $1,567,549.44. The trade was a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,343 shares of company stock valued at $382,688 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Exact Sciences Stock Performance

Exact Sciences stock opened at $66.18 on Friday. The company has a market cap of $12.53 billion, a PE ratio of -12.19, a PEG ratio of 5.56 and a beta of 1.34. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.81. The company’s 50-day moving average is $58.09 and its two-hundred day moving average is $53.46.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. Exact Sciences’s revenue for the quarter was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. Equities analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current 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.