Lisanti Capital Growth LLC Buys New Position in Exact Sciences Corporation $EXAS

Lisanti Capital Growth LLC purchased a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,060 shares of the medical research company’s stock, valued at approximately $1,651,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Exact Sciences by 2,804.8% during the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after acquiring an additional 589 shares during the last quarter. National Pension Service grew its position in Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences in the first quarter valued at $30,000. True Wealth Design LLC raised its holdings in shares of Exact Sciences by 951.8% in the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after buying an additional 533 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Exact Sciences during the first quarter worth about $34,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Down 1.5%

NASDAQ:EXAS opened at $66.18 on Friday. The stock has a market capitalization of $12.54 billion, a price-to-earnings ratio of -12.19, a PEG ratio of 5.56 and a beta of 1.34. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.81. The stock has a fifty day moving average price of $58.09 and a two-hundred day moving average price of $53.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

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 for the quarter, compared to analysts’ expectations of $810.42 million. During the same period in the prior year, the company posted ($0.21) EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Exact Sciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

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

Analyst Ratings Changes

Several brokerages recently issued reports on EXAS. Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Craig Hallum boosted their target price on Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Royal Bank Of Canada decreased their price target on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a report on Thursday, August 7th. UBS Group lowered their price objective 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. Finally, Evercore ISI upped their price objective on shares of Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.44.

About Exact Sciences

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.