Exact Sciences Co. (NASDAQ:EXAS) Stake Cut by Korea Investment CORP

Korea Investment CORP lessened its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 18.9% during the 4th quarter, HoldingsChannel reports. The fund owned 29,266 shares of the medical research company’s stock after selling 6,800 shares during the period. Korea Investment CORP’s holdings in Exact Sciences were worth $1,644,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EXAS. KLP Kapitalforvaltning AS acquired a new position in shares of Exact Sciences in the fourth quarter worth $3,624,000. Knights of Columbus Asset Advisors LLC increased its position in Exact Sciences by 7.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 23,298 shares of the medical research company’s stock worth $1,309,000 after purchasing an additional 1,692 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of Exact Sciences by 4.5% during the 4th quarter. iA Global Asset Management Inc. now owns 72,752 shares of the medical research company’s stock worth $4,088,000 after purchasing an additional 3,110 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Exact Sciences by 10.4% during the 4th quarter. Xponance Inc. now owns 24,013 shares of the medical research company’s stock valued at $1,349,000 after buying an additional 2,264 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $6,774,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXAS shares. Bank of America cut their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barclays cut their price target 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. Scotiabank upped their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Royal Bank of Canada started 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. Finally, Guggenheim set a $60.00 price target on Exact Sciences and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $70.26.

Exact Sciences Stock Up 0.4 %

NASDAQ EXAS opened at $43.45 on Wednesday. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The stock has a market cap of $8.07 billion, a PE ratio of -7.80 and a beta of 1.25. The firm has a 50-day simple moving average of $49.33 and a 200 day simple moving average of $57.43. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. On average, research analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current year.

Exact Sciences 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.