Avanza Fonder AB Acquires Shares of 19,512 Exact Sciences Co. (NASDAQ:EXAS)

Avanza Fonder AB acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,512 shares of the medical research company's stock, valued at approximately $1,096,000.

A number of other institutional investors have also recently made changes to their positions in EXAS. Geode Capital Management LLC increased its holdings in Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company's stock valued at $211,104,000 after purchasing an additional 7,873 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company's stock valued at $169,924,000 after buying an additional 245,980 shares during the period. Bellevue Group AG raised its holdings in shares of Exact Sciences by 25.1% during the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company's stock valued at $98,738,000 after acquiring an additional 290,585 shares in the last quarter. Armistice Capital LLC lifted its stake in Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company's stock worth $59,154,000 after acquiring an additional 669,438 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Exact Sciences by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company's stock valued at $88,017,000 after acquiring an additional 45,015 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Up 2.6 %

Shares of NASDAQ:EXAS traded up $1.30 during trading hours on Monday, hitting $51.74. 2,930,977 shares of the company's stock traded hands, compared to its average volume of 1,384,925. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The business has a fifty day moving average price of $57.15 and a 200-day moving average price of $59.26. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a market capitalization of $9.58 billion, a P/E ratio of -44.22 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million for the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences's quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Exact Sciences Co. will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

EXAS has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their target price on Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Citigroup dropped their target price 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. Benchmark reiterated a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Raymond James reissued a "market perform" rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Sanford C. Bernstein raised their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $72.94.

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.