Commonwealth Equity Services LLC Has $5.15 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Commonwealth Equity Services LLC decreased its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 5.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,626 shares of the medical research company’s stock after selling 5,097 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Exact Sciences were worth $5,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of EXAS. Groupama Asset Managment acquired a new stake in Exact Sciences in the 3rd quarter worth about $821,000. ArrowMark Colorado Holdings LLC acquired a new stake in Exact Sciences in the 3rd quarter worth about $28,608,000. Iron Triangle Partners LP acquired a new stake in Exact Sciences in the 3rd quarter worth about $27,239,000. Erste Asset Management GmbH acquired a new stake in Exact Sciences in the 3rd quarter worth about $26,546,000. Finally, Bellevue Group AG raised its stake in Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after purchasing an additional 290,585 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Up 3.0 %

EXAS opened at $45.62 on Friday. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. 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 has a market capitalization of $8.47 billion, a price-to-earnings ratio of -8.19 and a beta of 1.25. The company’s 50 day moving average price is $50.55 and its two-hundred day moving average price is $58.27.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. As a group, research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on EXAS. Scotiabank raised their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Royal Bank of Canada began coverage on shares of Exact Sciences in a report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 target price on the stock. Barclays decreased their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. TD Cowen raised their target price on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler decreased their target price 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. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $70.83.

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.