Mitsubishi UFJ Asset Management Co. Ltd. Purchases 12,349 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,196 shares of the medical research company's stock after purchasing an additional 12,349 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Exact Sciences were worth $6,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXAS. Wolff Wiese Magana LLC grew its stake in Exact Sciences by 459.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company's stock worth $31,000 after buying an additional 340 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company's stock worth $31,000 after buying an additional 179 shares during the period. Able Wealth Management LLC purchased a new stake in Exact Sciences during the fourth quarter worth approximately $45,000. Fortitude Family Office LLC purchased a new stake in Exact Sciences during the first quarter worth approximately $55,000. Finally, National Bank of Canada FI grew its stake in Exact Sciences by 30.9% during the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company's stock worth $63,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of the firm's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares of the company's stock, valued at $69,544,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,498 shares of company stock valued at $90,105 over the last quarter. Insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EXAS shares. Jefferies Financial Group started coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a "buy" rating and a $75.00 price target for the company. Canaccord Genuity Group decreased their price objective on shares of Exact Sciences from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday. Citigroup decreased their price objective on shares of Exact Sciences from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. Finally, BTIG Research decreased their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.80.

Exact Sciences Stock Down 1.6 %

Shares of EXAS stock traded down $0.75 during trading hours on Friday, hitting $46.81. 2,398,069 shares of the company were exchanged, compared to its average volume of 2,968,397. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.64. The business's 50-day simple moving average is $46.08 and its two-hundred day simple moving average is $57.50. Exact Sciences Co. has a one year low of $40.62 and a one year high of $99.56. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -35.46 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.50). Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. The firm had revenue of $637.52 million for the quarter, compared to analysts' expectations of $624.95 million. Sell-side analysts predict that Exact Sciences Co. will post -1.15 EPS for the current fiscal year.

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.