Sumitomo Mitsui Trust Group Inc. Lowers Position in Exact Sciences Co. (NASDAQ:EXAS)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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. owned approximately 0.51% of Exact Sciences worth $53,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EXAS. Stratos Wealth Partners LTD. purchased a new position in shares of Exact Sciences in the 4th quarter worth $223,000. abrdn plc raised its holdings in shares of Exact Sciences by 843.0% in the 4th quarter. abrdn plc now owns 61,641 shares of the medical research company’s stock worth $3,464,000 after purchasing an additional 55,104 shares during the period. Chicago Capital LLC lifted its stake in shares of Exact Sciences by 126.5% in the 4th quarter. Chicago Capital LLC now owns 10,080 shares of the medical research company’s stock valued at $566,000 after purchasing an additional 5,629 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Exact Sciences by 10.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 10,212 shares of the medical research company’s stock worth $579,000 after purchasing an additional 951 shares during the period. Finally, Gagnon Securities LLC increased 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 purchasing an additional 12,621 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Down 2.1 %

NASDAQ EXAS opened at $52.38 on Tuesday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -44.77 and a beta of 1.24. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The company’s fifty day moving average price is $57.12 and its two-hundred day moving average price is $60.16. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler reduced 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. Sanford C. Bernstein lifted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Monday, January 13th. Finally, Craig Hallum lowered their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.76.

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.