JB Capital LLC Raises Stock Holdings in Exact Sciences Corporation $EXAS

JB Capital LLC boosted its position in Exact Sciences Corporation (NASDAQ:EXAS) by 44.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,642 shares of the medical research company’s stock after purchasing an additional 9,728 shares during the quarter. JB Capital LLC’s holdings in Exact Sciences were worth $1,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC increased its stake in shares of Exact Sciences by 31.6% during the first quarter. Kestra Advisory Services LLC now owns 18,747 shares of the medical research company’s stock valued at $812,000 after purchasing an additional 4,504 shares in the last quarter. State of Wyoming purchased a new stake in shares of Exact Sciences in the first quarter worth $176,000. Magnetar Financial LLC bought a new position in shares of Exact Sciences during the first quarter valued at $325,000. Graham Capital Management L.P. purchased a new position in shares of Exact Sciences in the 1st quarter worth about $520,000. Finally, Advisors Asset Management Inc. increased its stake in Exact Sciences by 1.5% during the 1st quarter. Advisors Asset Management Inc. now owns 30,162 shares of the medical research company’s stock valued at $1,306,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

EXAS has been the subject of several analyst reports. Baird R W downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. BTIG Research lowered Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Jefferies Financial Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and lifted their price target for the stock from $90.00 to $105.00 in a research note on Monday, November 24th. Finally, Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.00.

Insider Activity

In other news, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the sale, the executive vice president directly owned 22,368 shares of the company’s stock, valued at $1,567,549.44. This trade represents a 11.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,858 shares of company stock worth $695,289. 1.20% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Down 0.0%

NASDAQ EXAS opened at $101.90 on Wednesday. The stock has a 50 day moving average price of $87.00 and a 200-day moving average price of $64.20. Exact Sciences Corporation has a one year low of $38.81 and a one year high of $102.66. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. The company has a market capitalization of $19.31 billion, a P/E ratio of -19.15, a P/E/G ratio of 12.58 and a beta of 1.42.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The company had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Exact Sciences’s revenue was up 20.0% on a year-over-year basis. As a group, equities analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.