GraniteShares Advisors LLC Invests $462,000 in Exact Sciences Co. (NASDAQ:EXAS)

GraniteShares Advisors LLC purchased a new position in Exact Sciences Co. (NASDAQ:EXAS) in the 4th quarter, Holdings Channel reports. The firm purchased 6,249 shares of the medical research company’s stock, valued at approximately $462,000.

Several other hedge funds have also recently modified their holdings of EXAS. True Wealth Design LLC purchased a new position in shares of Exact Sciences in the fourth quarter worth $30,000. Wolff Wiese Magana LLC increased its position in Exact Sciences by 459.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 340 shares during the last quarter. KB Financial Partners LLC purchased a new stake in Exact Sciences during the second quarter valued at $32,000. BluePath Capital Management LLC purchased a new stake in Exact Sciences during the third quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Exact Sciences during the third quarter valued at $34,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insider Transactions at Exact Sciences

In other news, insider Jacob A. Orville sold 966 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the transaction, the insider now owns 7,488 shares of the company’s stock, valued at $459,987.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Kevin T. Conroy sold 14,791 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $908,611.13. Following the completion of the transaction, the chief executive officer now directly owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacob A. Orville sold 966 shares of the 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 transaction, the insider now directly owns 7,488 shares of the company’s stock, valued at $459,987.84. The disclosure for this sale can be found here. Insiders sold a total of 69,113 shares of company stock valued at $4,165,273 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

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

Exact Sciences Stock Performance

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

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