Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH trimmed its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,781 shares of the medical research company’s stock after selling 39,358 shares during the quarter. Erste Asset Management GmbH owned 0.19% of Exact Sciences worth $19,904,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EXAS. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Exact Sciences by 63.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock worth $30,863,000 after purchasing an additional 213,557 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Exact Sciences during the 4th quarter worth about $2,667,000. Daiwa Securities Group Inc. increased its holdings in shares of Exact Sciences by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after acquiring an additional 300 shares during the last quarter. Isthmus Partners LLC increased its holdings in shares of Exact Sciences by 8.9% in the 4th quarter. Isthmus Partners LLC now owns 12,227 shares of the medical research company’s stock valued at $687,000 after acquiring an additional 1,000 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $46.35 on Thursday. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of -8.32 and a beta of 1.25. The business’s 50 day moving average is $52.26 and its two-hundred day moving average is $59.06. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Research analysts expect that Exact Sciences Co. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen increased their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Scotiabank upped their target price on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. BTIG Research lifted their price target on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler decreased their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $71.94.

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.