Wasatch Advisors LP Has $23.48 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Wasatch Advisors LP reduced its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 417,927 shares of the medical research company’s stock after selling 19,946 shares during the period. Wasatch Advisors LP’s holdings in Exact Sciences were worth $23,483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp boosted its holdings in Exact Sciences by 43.5% during the third quarter. M&T Bank Corp now owns 9,256 shares of the medical research company’s stock worth $630,000 after buying an additional 2,806 shares during the last quarter. Tidal Investments LLC boosted its stake in Exact Sciences by 172.2% during the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company’s stock worth $2,335,000 after acquiring an additional 21,683 shares during the last quarter. Synovus Financial Corp bought a new position in Exact Sciences during the 3rd quarter worth approximately $490,000. American Trust acquired a new position in Exact Sciences during the third quarter valued at approximately $229,000. Finally, GAMMA Investing LLC increased its stake in Exact Sciences by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 3,674 shares of the medical research company’s stock valued at $206,000 after purchasing an additional 828 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

EXAS has been the topic of several recent analyst reports. Royal Bank of Canada began coverage on Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Mizuho initiated coverage on Exact Sciences in a report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price objective on the stock. Bank of America lowered their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Piper Sandler cut their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Benchmark reissued a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.25.

Exact Sciences Stock Down 3.2 %

EXAS stock opened at $42.26 on Thursday. Exact Sciences Co. has a 1-year low of $39.97 and a 1-year high of $72.83. The business’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $55.39. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $7.85 billion, a PE ratio of -7.59 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million for the quarter, compared to the consensus estimate 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.

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.