Blue Water Life Science Advisors LP Sells 176,400 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Blue Water Life Science Advisors LP trimmed its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 69.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,843 shares of the medical research company's stock after selling 176,400 shares during the quarter. Exact Sciences comprises about 3.9% of Blue Water Life Science Advisors LP's investment portfolio, making the stock its 7th biggest position. Blue Water Life Science Advisors LP's holdings in Exact Sciences were worth $4,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EXAS. Asset Planning Inc purchased a new position in Exact Sciences in the fourth quarter worth about $40,000. Modus Advisors LLC bought a new position in Exact Sciences during the fourth quarter valued at $43,000. AlphaQuest LLC grew 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in Exact Sciences in the 4th quarter worth about $66,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Exact Sciences during the fourth quarter valued at approximately $188,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Price Performance

EXAS traded up $0.58 on Wednesday, reaching $44.73. 808,866 shares of the company's stock were exchanged, compared to its average volume of 2,605,838. The stock has a market cap of $8.31 billion, a PE ratio of -8.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences Co. has a twelve month low of $39.97 and a twelve month high of $72.83. The stock's fifty day moving average price is $45.60 and its 200-day moving average price is $54.62.

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

Analysts Set New Price Targets

Several equities analysts have commented on EXAS shares. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Piper Sandler cut their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Benchmark reissued a "buy" rating and issued a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research note on Monday, February 24th. Finally, William Blair restated an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Two investment 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. According to MarketBeat, the company currently 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.