Tredje AP fonden Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Tredje AP fonden reduced its stake in Exact Sciences Co. (NASDAQ:EXAS) by 50.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,080 shares of the medical research company’s stock after selling 14,080 shares during the period. Tredje AP fonden’s holdings in Exact Sciences were worth $791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. raised its holdings in Exact Sciences by 17.8% during the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after buying an additional 36,505 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Exact Sciences during the third quarter worth about $2,083,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after purchasing an additional 125,192 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after purchasing an additional 45,015 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Exact Sciences by 35.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company’s stock valued at $5,385,000 after purchasing an additional 24,992 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EXAS. Royal Bank of Canada initiated coverage on Exact Sciences in a research note on Thursday. They set a “sector perform” rating and a $52.00 target price on the stock. TD Cowen upped their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler cut their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. BTIG Research increased their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Scotiabank lifted their price objective 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. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $70.83.

Exact Sciences Stock Up 4.6 %

NASDAQ:EXAS opened at $45.00 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The firm has a market cap of $8.36 billion, a P/E ratio of -8.08 and a beta of 1.25. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm has a 50-day simple moving average of $51.73 and a two-hundred day simple moving average of $58.84.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

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.