Sanders Morris Harris LLC Invests $274,000 in Exact Sciences Corporation $EXAS

by · The Markets Daily

Sanders Morris Harris LLC purchased a new stake in Exact Sciences Corporation (NASDAQ:EXAS – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the medical research company’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXAS. Moody National Bank Trust Division grew its position in Exact Sciences by 9.5% during the third quarter. Moody National Bank Trust Division now owns 12,813 shares of the medical research company’s stock valued at $701,000 after buying an additional 1,113 shares during the period. Capital Asset Advisory Services LLC increased its holdings in shares of Exact Sciences by 4.8% in the third quarter. Capital Asset Advisory Services LLC now owns 3,941 shares of the medical research company’s stock worth $216,000 after purchasing an additional 182 shares during the period. Corient Private Wealth LLC increased its position in shares of Exact Sciences by 27.3% in the second quarter. Corient Private Wealth LLC now owns 16,539 shares of the medical research company’s stock worth $879,000 after purchasing an additional 3,550 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Exact Sciences by 463.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company’s stock worth $65,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Forefront Wealth Partners LLC bought a new stake in shares of Exact Sciences in the 2nd quarter worth approximately $208,000. 88.82% of the stock is owned by institutional investors.

Insider Transactions at Exact Sciences

In related news, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director owned 57,962 shares in the company, valued at $3,477,720. This represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob A. Orville sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the executive vice president directly owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,858 shares of company stock worth $695,289 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Stock Down 0.1%

Shares of EXAS stock opened at $101.61 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. The stock has a market cap of $19.25 billion, a P/E ratio of -19.10, a PEG ratio of 12.55 and a beta of 1.42. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $101.95. The company’s fifty day simple moving average is $79.64 and its two-hundred day simple moving average is $61.19.

Exact Sciences (NASDAQ:EXAS – Get Free Report) last released its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million during the quarter, compared to analyst estimates of $810.42 million. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) EPS. Analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on EXAS. William Blair downgraded shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 20th. BTIG Research cut shares of Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Canaccord Genuity Group cut Exact Sciences from a “buy” rating to a “hold” rating and lifted their price objective for the company from $85.00 to $105.00 in a research note on Tuesday, November 25th. Evercore ISI boosted their target price on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Finally, Robert W. Baird set a $105.00 price target on Exact Sciences in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.00.

Read Our Latest Stock Analysis on Exact Sciences

About Exact Sciences

(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.

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