ADAR1 Capital Management LLC Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

ADAR1 Capital Management LLC decreased its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 67.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,000 shares of the medical research company's stock after selling 10,200 shares during the quarter. ADAR1 Capital Management LLC's holdings in Exact Sciences were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Asset Planning Inc acquired a new position in Exact Sciences in the fourth quarter valued at approximately $40,000. Modus Advisors LLC acquired a new position in shares of Exact Sciences in the 4th quarter valued at $43,000. AlphaQuest LLC lifted its stake 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 valued at $52,000 after purchasing an additional 913 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Exact Sciences in the 4th quarter worth $66,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Exact Sciences during the fourth quarter worth $188,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Price Performance

NASDAQ:EXAS traded up $0.71 during mid-day trading on Friday, reaching $44.45. The stock had a trading volume of 3,097,830 shares, compared to its average volume of 2,608,680. The stock has a market capitalization of $8.26 billion, a P/E ratio of -7.98 and a beta of 1.14. The firm has a 50 day moving average price of $46.95 and a two-hundred day moving average price of $55.72. 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 Co. has a one year low of $39.97 and a one year high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million during 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%. As a group, analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several analyst reports. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Piper Sandler reduced their price target 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. Benchmark restated a "buy" rating and issued a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. Finally, Royal Bank of Canada initiated coverage on Exact Sciences in a report on Thursday, March 13th. They set a "sector perform" rating and a $52.00 target price on the stock. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.25.

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.