Peregrine Capital Management LLC Sells 34,478 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Peregrine Capital Management LLC lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,740 shares of the medical research company's stock after selling 34,478 shares during the quarter. Exact Sciences makes up about 1.2% of Peregrine Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Peregrine Capital Management LLC owned approximately 0.39% of Exact Sciences worth $41,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Huntington National Bank lifted its stake in Exact Sciences by 838.1% during the third 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 Exact Sciences during the third quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences during the third quarter worth about $35,000. Vestor Capital LLC acquired a new position in Exact Sciences during the third quarter worth about $46,000. Finally, V Square Quantitative Management LLC purchased a new position in Exact Sciences in the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Stock Down 0.5 %

NASDAQ EXAS traded down $0.25 during trading hours on Friday, hitting $49.26. 3,339,540 shares of the company traded hands, compared to its average volume of 2,338,169. 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 business's 50-day moving average is $54.91 and its 200-day moving average is $59.99. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -8.84 and a beta of 1.24. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 37.29%. Sell-side analysts anticipate that Exact Sciences Co. will post -0.59 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Barclays dropped 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. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group reduced their price target on Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, William Blair restated an "outperform" rating on shares of Exact Sciences in a report on Thursday. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $72.06.

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.