CIBC Private Wealth Group LLC Decreases Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

CIBC Private Wealth Group LLC trimmed its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,357 shares of the medical research company’s stock after selling 426 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Exact Sciences were worth $190,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Asset Planning Inc purchased a new stake in shares of Exact Sciences during the fourth quarter worth approximately $40,000. Modus Advisors LLC purchased a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $43,000. AlphaQuest LLC increased its position in shares of Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 913 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Exact Sciences in the 4th quarter valued at $66,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Exact Sciences during the 4th quarter worth $188,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 3.9 %

EXAS opened at $42.55 on Monday. Exact Sciences Co. has a 52 week low of $40.58 and a 52 week high of $74.44. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $48.64 and a two-hundred day moving average price of $56.90. The company has a market cap of $7.90 billion, a PE ratio of -7.64 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

EXAS has been the topic of several recent analyst reports. Scotiabank increased their target price on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Piper Sandler dropped their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim set a $60.00 price target on Exact Sciences and gave the company a “buy” rating in a report on Friday, March 28th. Bank of America dropped their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Barclays reduced their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.26.

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.