Lisanti Capital Growth LLC Cuts Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Lisanti Capital Growth LLC lessened its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,280 shares of the medical research company’s stock after selling 9,440 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Exact Sciences were worth $834,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EXAS. Wolff Wiese Magana LLC grew its holdings 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 worth $31,000 after acquiring an additional 340 shares during the period. BluePath Capital Management LLC acquired a new position in Exact Sciences during the third quarter worth $33,000. Cullen Frost Bankers Inc. grew its holdings in Exact Sciences by 40.0% during the third quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after acquiring an additional 200 shares during the period. Valley National Advisers Inc. grew its holdings in Exact Sciences by 29.5% in the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after purchasing an additional 176 shares during the last quarter. Finally, Milestone Investment Advisors LLC acquired a new stake in Exact Sciences in the third quarter valued at $57,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

EXAS has been the topic of several research reports. Canaccord Genuity Group lowered their target price on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Citigroup reissued a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a report on Wednesday, April 3rd. Finally, TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.07.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the completion of the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sarah Condella sold 965 shares of the firm’s 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 $59,279.95. Following the sale, the executive vice president now owns 70,489 shares of the company’s stock, valued at approximately $4,330,139.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,611 shares of company stock worth $4,255,377. 1.30% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Down 3.1 %

NASDAQ EXAS traded down $1.94 during trading hours on Tuesday, hitting $61.41. 1,933,961 shares of the company’s stock were exchanged, compared to its average volume of 2,273,959. The business’s 50 day moving average is $63.49 and its 200-day moving average is $64.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32. Exact Sciences Co. has a 12-month low of $56.05 and a 12-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) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company had revenue of $646.89 million for the quarter, compared to the consensus estimate of $638.83 million. During the same period last year, the business posted ($0.72) EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal year.

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.