Banque Pictet & Cie SA Has $3.97 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Banque Pictet & Cie SA cut its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 62.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,693 shares of the medical research company’s stock after selling 118,540 shares during the quarter. Banque Pictet & Cie SA’s holdings in Exact Sciences were worth $3,972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXAS. Huntington National Bank lifted its holdings in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences during the 3rd quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences during the 3rd quarter worth about $35,000. Modus Advisors LLC acquired a new position in Exact Sciences during the 4th quarter worth about $43,000. Finally, Vestor Capital LLC acquired a new position in Exact Sciences during the 3rd quarter worth about $46,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of EXAS opened at $49.31 on Friday. 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 stock has a 50 day moving average price of $56.15 and a two-hundred day moving average price of $60.09. The firm has a market capitalization of $9.13 billion, a P/E ratio of -42.14 and a beta of 1.24. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXAS. Canaccord Genuity Group dropped their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler dropped their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Stifel Nicolaus dropped their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.76.

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.