Resona Asset Management Co. Ltd. Invests $3.03 Million in Exact Sciences Co. (NASDAQ:EXAS)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 53,784 shares of the medical research company's stock, valued at approximately $3,031,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EXAS. Asset Planning Inc purchased a new position in Exact Sciences in the fourth quarter worth about $40,000. Modus Advisors LLC purchased a new stake in shares of Exact Sciences in the 4th quarter worth $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 worth $52,000 after acquiring an additional 913 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Exact Sciences during the fourth quarter valued at approximately $66,000. Finally, Quantinno Capital Management LP bought a new position in shares of Exact Sciences in the 3rd quarter worth $223,000. 88.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EXAS shares. Barclays decreased their target price on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Benchmark reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Mizuho started coverage on Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 target price on the stock. Scotiabank increased their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Finally, Bank of America reduced their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.25.

Exact Sciences Trading Down 1.0 %

Shares of NASDAQ:EXAS traded down $0.45 during mid-day trading on Tuesday, reaching $43.80. 295,208 shares of the company were exchanged, compared to its average volume of 2,596,565. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The firm's 50-day simple moving average is $46.72 and its 200 day simple moving average is $55.57. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of -7.86 and a beta of 1.14.

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