Assetmark Inc. Has $198,000 Stake in Exact Sciences Co. (NASDAQ:EXAS)

Assetmark Inc. lowered its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 8.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,910 shares of the medical research company’s stock after selling 262 shares during the quarter. Assetmark Inc.’s holdings in Exact Sciences were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after buying an additional 12,349 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after purchasing an additional 10,356 shares during the period. Profund Advisors LLC grew its position in shares of Exact Sciences by 239.8% during the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after purchasing an additional 55,459 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Exact Sciences during the second quarter worth approximately $163,896,000. Finally, Swedbank AB acquired a new stake in shares of Exact Sciences in the first quarter valued at approximately $2,719,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXAS. Wells Fargo & Company initiated coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Stifel Nicolaus reduced their target price on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Piper Sandler dropped their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup reduced their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Benchmark dropped their target price on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.47.

Exact Sciences Stock Down 3.1 %

Shares of NASDAQ EXAS opened at $49.33 on Friday. The company has a 50 day simple moving average of $65.83 and a 200 day simple moving average of $56.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a market cap of $9.13 billion, a PE ratio of -42.16 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business 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%. The company’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Exact Sciences Co. will post -1.08 EPS 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.