Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 379 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Posted by Defense World Staff on Aug 12th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Exact Sciences Co. (NASDAQ:EXAS – Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,453 shares of the medical research company’s stock after purchasing an additional 379 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Exact Sciences were worth $4,099,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bailard Inc. bought a new stake in shares of Exact Sciences during the 1st quarter worth $210,000. Global Retirement Partners LLC lifted its holdings in shares of Exact Sciences by 7,630.7% during the 1st quarter. Global Retirement Partners LLC now owns 8,813 shares of the medical research company’s stock worth $561,000 after acquiring an additional 8,699 shares during the last quarter. Lisanti Capital Growth LLC lifted its holdings in shares of Exact Sciences by 71.9% during the 1st quarter. Lisanti Capital Growth LLC now owns 89,445 shares of the medical research company’s stock worth $6,065,000 after acquiring an additional 37,425 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Exact Sciences during the 1st quarter worth $1,040,000. Finally, Truist Financial Corp lifted its stake in Exact Sciences by 2.4% in the first quarter. Truist Financial Corp now owns 18,547 shares of the medical research company’s stock worth $1,258,000 after purchasing an additional 442 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Benchmark downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Craig Hallum boosted their price target on shares of Exact Sciences from $85.00 to $106.00 in a research note on Thursday, June 22nd. Stifel Nicolaus boosted their price target on shares of Exact Sciences from $85.00 to $120.00 in a research note on Thursday, June 22nd. Jefferies Financial Group boosted their price target on shares of Exact Sciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, StockNews.com assumed coverage on shares of Exact Sciences in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Check Out Our Latest Research Report on EXAS

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $82.37 on Friday. Exact Sciences Co. has a 1 year low of $29.27 and a 1 year high of $100.77. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.41 and a quick ratio of 2.14. The company’s 50-day moving average is $92.36 and its 200 day moving average is $76.76. The stock has a market capitalization of $14.88 billion, a P/E ratio of -33.90 and a beta of 1.42.

Exact Sciences (NASDAQ:EXAS – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The medical research company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.05. Exact Sciences had a negative net margin of 18.76% and a negative return on equity of 14.08%. The company had revenue of $622.10 million for the quarter, compared to analysts’ expectations of $601.14 million. During the same quarter in the previous year, the company earned ($0.94) earnings per share. Exact Sciences’s quarterly revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts expect that Exact Sciences Co. will post -1.91 earnings per share for the current year.

Insider Activity at Exact Sciences

In related news, General Counsel James Herriott sold 1,300 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $90.00, for a total transaction of $117,000.00. Following the transaction, the general counsel now owns 7,264 shares in the company, valued at $653,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Exact Sciences news, insider Brian Baranick sold 1,350 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $85.04, for a total value of $114,804.00. Following the sale, the insider now owns 8,871 shares in the company, valued at $754,389.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel James Herriott sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $90.00, for a total transaction of $117,000.00. Following the completion of the sale, the general counsel now owns 7,264 shares in the company, valued at approximately $653,760. The disclosure for this sale can be found here. Insiders have sold 7,352 shares of company stock worth $683,539 over the last 90 days. 1.30% of the stock is owned by company insiders.

Exact Sciences Profile

(Free Report)

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.