Exact Sciences Co. (NASDAQ:EXAS) Stake Cut by Harbour Investments Inc.

Harbour Investments Inc. cut its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,666 shares of the medical research company’s stock after selling 3,124 shares during the period. Harbour Investments Inc.’s holdings in Exact Sciences were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Exact Sciences by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after buying an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Exact Sciences by 10.9% in the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after buying an additional 245,980 shares during the last quarter. Bellevue Group AG lifted its stake in Exact Sciences by 25.1% in the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after buying an additional 290,585 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Exact Sciences by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock valued at $74,785,000 after buying an additional 38,849 shares during the last quarter. Finally, Groupama Asset Managment bought a new stake in Exact Sciences in the third quarter valued at $821,000. 88.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Piper Sandler cut their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. BTIG Research lifted their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Scotiabank lifted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. 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 note on Thursday, February 20th. Finally, TD Cowen lifted their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.83.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $44.92 on Wednesday. The business’s 50-day moving average price is $51.24 and its 200 day moving average price is $58.58. The firm has a market cap of $8.34 billion, a P/E ratio of -8.06 and a beta of 1.25. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly 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. The firm had revenue of $713.42 million for the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. As a group, sell-side analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal 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.