Exact Sciences Co. (NASDAQ:EXAS) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lowered its stake in Exact Sciences Co. (NASDAQ:EXAS) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,525 shares of the medical research company’s stock after selling 250 shares during the quarter. Sit Investment Associates Inc.’s holdings in Exact Sciences were worth $3,738,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EXAS. Asset Planning Inc acquired a new position in shares of Exact Sciences in the 4th quarter worth approximately $40,000. Modus Advisors LLC acquired a new position in Exact Sciences during the fourth quarter worth $43,000. AlphaQuest LLC boosted its position in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after buying an additional 913 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Exact Sciences in the fourth quarter valued at $66,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at $223,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 3.9 %

EXAS stock opened at $42.55 on Monday. The company has a 50 day moving average price of $48.64 and a two-hundred day moving average price of $56.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The stock has a market capitalization of $7.90 billion, a P/E ratio of -7.64 and a beta of 1.14. Exact Sciences Co. has a one year low of $40.58 and a one year high of $74.44.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping 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 return on equity of 5.29% and a negative net margin of 37.29%. As a group, sell-side analysts expect that Exact Sciences Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on EXAS. Guggenheim set a $60.00 target price on Exact Sciences and gave the company a “buy” rating in a research report on Friday, March 28th. 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 report on Monday, February 24th. Royal Bank of Canada started coverage on shares of Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, Bank of America reduced their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.26.

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.