Exact Sciences Corporation (NASDAQ:EXAS) Stake Boosted by Tredje AP fonden

Tredje AP fonden grew its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 386.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,541 shares of the medical research company’s stock after acquiring an additional 54,461 shares during the period. Tredje AP fonden’s holdings in Exact Sciences were worth $2,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. XTX Topco Ltd lifted its holdings in shares of Exact Sciences by 93.4% during the 1st quarter. XTX Topco Ltd now owns 23,626 shares of the medical research company’s stock valued at $1,023,000 after buying an additional 11,409 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Exact Sciences during the 1st quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Exact Sciences during the 1st quarter valued at $149,000. Mackenzie Financial Corp raised its holdings in shares of Exact Sciences by 12.4% during the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock valued at $142,062,000 after purchasing an additional 362,314 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Exact Sciences by 6.8% during the 1st quarter. Cetera Investment Advisers now owns 88,233 shares of the medical research company’s stock valued at $3,820,000 after acquiring an additional 5,596 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Down 1.6%

Shares of NASDAQ:EXAS opened at $46.80 on Thursday. The stock has a market capitalization of $8.83 billion, a PE ratio of -8.49, a price-to-earnings-growth ratio of 10.15 and a beta of 0.95. Exact Sciences Corporation has a one year low of $39.97 and a one year high of $72.83. The company’s 50-day moving average price is $53.13 and its two-hundred day moving average price is $50.44. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The company had revenue of $706.79 million during the quarter, compared to analysts’ expectations of $688.58 million. During the same period last year, the firm posted ($0.60) earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In other news, Director Katherine S. Zanotti sold 3,207 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the sale, the director owned 72,759 shares of the company’s stock, valued at approximately $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXAS shares. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Robert W. Baird upped their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Evercore ISI upped their price objective on shares of Exact Sciences from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Mizuho assumed coverage on shares of Exact Sciences in a report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average target price of $70.50.

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.