Connor Clark & Lunn Investment Management Ltd. increased its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 63.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 549,262 shares of the medical research company's stock after purchasing an additional 213,557 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Exact Sciences worth $30,863,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Exact Sciences by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company's stock worth $211,104,000 after purchasing an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC raised its position in Exact Sciences by 10.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company's stock worth $169,924,000 after purchasing an additional 245,980 shares during the last quarter. Bellevue Group AG raised its position in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company's stock worth $98,738,000 after purchasing an additional 290,585 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Exact Sciences by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company's stock worth $74,785,000 after purchasing an additional 38,849 shares during the last quarter. Finally, Groupama Asset Managment bought a new position in Exact Sciences in the 3rd quarter worth approximately $821,000. Institutional investors own 88.82% of the company's stock.
Exact Sciences Stock Up 4.6 %
Shares of NASDAQ:EXAS traded up $1.96 during midday trading on Friday, hitting $45.00. The stock had a trading volume of 1,704,012 shares, compared to its average volume of 2,337,978. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. 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 business's 50-day simple moving average is $51.73 and its 200-day simple moving average is $58.84. The company has a market cap of $8.36 billion, a P/E ratio of -8.08 and a beta of 1.25.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly 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. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The business had revenue of $713.42 million during the quarter, compared to analysts' expectations of $701.45 million. On average, sell-side analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
EXAS has been the subject of several research analyst reports. Royal Bank of Canada began coverage on shares of Exact Sciences in a research report on Thursday. They issued a "sector perform" rating and a $52.00 price objective for the company. TD Cowen increased their price target on Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Bank of America cut their price target on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Barclays cut their price target on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.83.
Check Out Our Latest Research Report on EXAS
Exact Sciences Company Profile
(
Free Report)
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.
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