AlphaCentric Advisors LLC Lowers Holdings in Exact Sciences Co. (NASDAQ:EXAS)

AlphaCentric Advisors LLC reduced its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 60.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,790 shares of the medical research company's stock after selling 18,210 shares during the period. AlphaCentric Advisors LLC's holdings in Exact Sciences were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of EXAS. AMF Tjanstepension AB purchased a new stake in Exact Sciences during the third quarter valued at approximately $724,000. Creative Planning grew its position in shares of Exact Sciences by 14.8% during the 3rd quarter. Creative Planning now owns 38,060 shares of the medical research company's stock valued at $2,593,000 after acquiring an additional 4,906 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter worth $47,000. Blue Trust Inc. raised its holdings in Exact Sciences by 61.0% in the 3rd quarter. Blue Trust Inc. now owns 5,220 shares of the medical research company's stock worth $356,000 after purchasing an additional 1,978 shares during the period. Finally, Chicago Capital LLC purchased a new position in Exact Sciences during the third quarter valued at $303,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on EXAS. Barclays reduced their price target on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday. Citigroup lowered their price target on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Craig Hallum dropped their price target on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Piper Sandler decreased their price objective 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. Finally, Jefferies Financial Group upped their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $72.06.

Exact Sciences Price Performance

EXAS stock traded down $0.97 during trading on Thursday, hitting $49.51. 5,327,721 shares of the company's stock traded hands, compared to its average volume of 2,307,822. The business has a fifty day simple moving average of $55.15 and a 200 day simple moving average of $60.03. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -42.32 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. As a group, research analysts expect that Exact Sciences Co. will post -1.1 EPS for the current fiscal year.

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.