Exact Sciences Co. (NASDAQ:EXAS) Stake Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in Exact Sciences Co. (NASDAQ:EXAS) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 944,961 shares of the medical research company’s stock after selling 104,974 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Exact Sciences were worth $53,097,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. bought a new stake in Exact Sciences in the 4th quarter valued at about $223,000. abrdn plc increased its stake in shares of Exact Sciences by 843.0% in the fourth quarter. abrdn plc now owns 61,641 shares of the medical research company’s stock valued at $3,464,000 after purchasing an additional 55,104 shares during the period. Chicago Capital LLC raised its holdings in shares of Exact Sciences by 126.5% during the fourth quarter. Chicago Capital LLC now owns 10,080 shares of the medical research company’s stock valued at $566,000 after buying an additional 5,629 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Exact Sciences by 10.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 10,212 shares of the medical research company’s stock worth $579,000 after buying an additional 951 shares during the period. Finally, Gagnon Securities LLC boosted its position in Exact Sciences by 5.4% during the 4th quarter. Gagnon Securities LLC now owns 246,204 shares of the medical research company’s stock worth $13,834,000 after acquiring an additional 12,621 shares during the period. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Down 2.1 %

Shares of Exact Sciences stock opened at $52.38 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The stock has a 50-day moving average price of $57.12 and a 200 day moving average price of $60.16. The company has a market cap of $9.69 billion, a P/E ratio of -44.77 and a beta of 1.24.

Analysts Set New Price Targets

EXAS has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Craig Hallum reduced their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. BTIG Research lifted their price objective 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. Jefferies Financial Group increased their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler decreased their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.76.

Insider Transactions at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.36% of the stock is owned by insiders.

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.