Alliancebernstein L.P. Sells 890,747 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Alliancebernstein L.P. lowered its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,845 shares of the medical research company's stock after selling 890,747 shares during the quarter. Alliancebernstein L.P.'s holdings in Exact Sciences were worth $3,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Asset Planning Inc purchased a new stake in Exact Sciences during the 4th quarter valued at $40,000. Modus Advisors LLC bought a new stake in shares of Exact Sciences in the fourth quarter worth about $43,000. AlphaQuest LLC increased its holdings in Exact Sciences by 22,825.0% during 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 Exact Sciences during the 4th quarter valued at approximately $66,000. Finally, Kieckhefer Group LLC purchased a new stake in Exact Sciences in the 4th quarter worth approximately $188,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

EXAS traded down $0.68 during midday trading on Friday, hitting $41.58. 3,157,616 shares of the company traded hands, compared to its average volume of 2,605,711. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company's 50-day moving average is $45.87 and its 200 day moving average is $54.95. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83. The firm has a market capitalization of $7.72 billion, a PE ratio of -7.46 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. On average, research analysts expect that Exact Sciences Co. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EXAS shares. Mizuho began coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 target price on the stock. Piper Sandler reduced 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. Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Scotiabank increased their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.