Swiss National Bank Cuts Position in Exact Sciences Co. (NASDAQ:EXAS)

Swiss National Bank lessened its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 521,880 shares of the medical research company’s stock after selling 25,800 shares during the period. Swiss National Bank’s holdings in Exact Sciences were worth $29,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXAS. Huntington National Bank boosted its stake in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences in the 3rd quarter worth approximately $34,000. Asset Planning Inc purchased a new position in shares of Exact Sciences in the 4th quarter worth approximately $40,000. Modus Advisors LLC purchased a new position in shares of Exact Sciences in the 4th quarter worth approximately $43,000. Finally, AlphaQuest LLC raised its holdings in shares of Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after purchasing an additional 913 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

EXAS has been the topic of a number of research reports. Bank of America lowered their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. TD Cowen lifted their price target 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. Royal Bank of Canada initiated coverage on shares of Exact Sciences in a report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, BTIG Research lifted their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

Exact Sciences Trading Up 0.4 %

Exact Sciences stock opened at $45.18 on Tuesday. The stock has a market cap of $8.39 billion, a P/E ratio of -8.11 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’s fifty day moving average price is $51.48 and its 200-day moving average price is $58.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million for the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Equities research analysts forecast 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.