Tradewinds LLC. Purchases Shares of 6,607 Exact Sciences Co. (NASDAQ:EXAS)

Tradewinds LLC. acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,607 shares of the medical research company’s stock, valued at approximately $371,000.

A number of other hedge funds have also made changes to their positions in EXAS. Edmond DE Rothschild Holding S.A. grew its position in shares of Exact Sciences by 12.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 267,648 shares of the medical research company’s stock valued at $15,039,000 after buying an additional 29,026 shares during the last quarter. Allstate Corp acquired a new position in Exact Sciences in the fourth quarter valued at $311,000. DnB Asset Management AS grew its holdings in shares of Exact Sciences by 23.4% during the fourth quarter. DnB Asset Management AS now owns 226,857 shares of the medical research company’s stock worth $12,747,000 after purchasing an additional 43,006 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Exact Sciences by 2.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 69,341 shares of the medical research company’s stock worth $3,896,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Exact Sciences in the 4th quarter valued at about $50,625,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on EXAS shares. Royal Bank of Canada started coverage on Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price target on the stock. Scotiabank upped their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Piper Sandler lowered their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barclays reduced their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.26.

Exact Sciences Price Performance

EXAS stock opened at $43.45 on Wednesday. The company has a market cap of $8.07 billion, a price-to-earnings ratio of -7.80 and a beta of 1.25. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $49.33 and a 200-day moving average of $57.43. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. As a group, equities analysts expect that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

About Exact Sciences

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.