Erste Asset Management GmbH Cuts Position in Exact Sciences Co. (NASDAQ:EXAS)

Erste Asset Management GmbH lowered its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,781 shares of the medical research company's stock after selling 39,358 shares during the quarter. Erste Asset Management GmbH owned 0.19% of Exact Sciences worth $19,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Huntington National Bank raised its position in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after purchasing an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Exact Sciences in the third quarter worth approximately $34,000. Asset Planning Inc acquired a new position in shares of Exact Sciences in the fourth quarter worth approximately $40,000. Modus Advisors LLC bought a new stake in Exact Sciences in the fourth quarter valued at approximately $43,000. Finally, AlphaQuest LLC raised 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 worth $52,000 after purchasing an additional 913 shares during the last quarter. Institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays reduced their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a report on Thursday. They set a "sector perform" rating and a $52.00 price target for the company. TD Cowen boosted their price objective on Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Bank of America decreased their target price on Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Piper Sandler dropped their price target on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and an average target price of $70.83.

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Exact Sciences Stock Up 0.4 %

NASDAQ EXAS traded up $0.18 during trading hours on Monday, hitting $45.18. The company's stock had a trading volume of 1,956,921 shares, compared to its average volume of 2,624,764. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company's 50-day simple moving average is $51.73 and its two-hundred day simple moving average is $58.82. The company has a market capitalization of $8.39 billion, a PE ratio of -8.11 and a beta of 1.25. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62.

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 (EPS) for the quarter, beating 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 5.29% and a negative net margin of 37.29%. Research analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

About Exact Sciences

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.