Exact Sciences Co. (NASDAQ:EXAS) Stock Position Decreased by Baillie Gifford & Co.

Baillie Gifford & Co. cut its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 15.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,209,501 shares of the medical research company’s stock after selling 217,116 shares during the period. Baillie Gifford & Co. owned approximately 0.65% of Exact Sciences worth $82,391,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EXAS. Harbour Investments Inc. lifted its position in Exact Sciences by 9.2% in the 3rd quarter. Harbour Investments Inc. now owns 29,790 shares of the medical research company’s stock worth $2,029,000 after buying an additional 2,518 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after acquiring an additional 172,821 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter worth about $1,040,000. Patten & Patten Inc. TN grew its stake in shares of Exact Sciences by 13.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 25,693 shares of the medical research company’s stock valued at $1,750,000 after buying an additional 3,138 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Exact Sciences in the third quarter worth approximately $4,228,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Down 2.3 %

Shares of EXAS opened at $50.16 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12. The company has a 50-day simple moving average of $66.35 and a 200-day simple moving average of $56.34. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The firm has a market capitalization of $9.28 billion, a P/E ratio of -42.87 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Exact Sciences Co. will post -1.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Jefferies Financial Group lifted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein increased their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Benchmark decreased their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.47.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 13,687 shares in the company, valued at $958,090. This trade represents a 0.00 % 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. 1.36% of the stock is owned by company insiders.

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.