Gateway Investment Advisers LLC Has $367,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Gateway Investment Advisers LLC reduced its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 54.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,530 shares of the medical research company’s stock after selling 7,902 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Exact Sciences were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EXAS. Geode Capital Management LLC increased its stake in Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after purchasing an additional 7,873 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock worth $169,924,000 after acquiring an additional 245,980 shares in the last quarter. Bellevue Group AG raised its holdings in shares of Exact Sciences by 25.1% during the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after acquiring an additional 290,585 shares during the period. Armistice Capital LLC lifted its position in Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after acquiring an additional 669,438 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Exact Sciences by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after purchasing an additional 45,015 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the topic of a number of research reports. Bank of America cut their price target on Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Robert W. Baird decreased their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group increased their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Piper Sandler lowered their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.94.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $51.74 on Monday. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a market cap of $9.58 billion, a PE ratio of -44.22 and a beta of 1.24. The firm has a 50-day moving average of $57.15 and a 200-day moving average of $59.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Exact Sciences Co. will post -1.1 EPS for the current year.

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.