Exact Sciences Corporation $EXAS Position Cut by Quantum Private Wealth LLC

Quantum Private Wealth LLC reduced its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 53.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,238 shares of the medical research company’s stock after selling 10,748 shares during the quarter. Quantum Private Wealth LLC’s holdings in Exact Sciences were worth $505,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA bought a new position in shares of Exact Sciences in the second quarter worth $157,805,000. Holocene Advisors LP lifted its holdings in Exact Sciences by 189.5% in the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after purchasing an additional 1,404,086 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Exact Sciences by 643.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after buying an additional 1,113,459 shares in the last quarter. Norges Bank bought a new position in Exact Sciences in the 2nd quarter valued at about $48,372,000. Finally, AQR Capital Management LLC increased its stake in Exact Sciences by 73.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,753,283 shares of the medical research company’s stock valued at $93,169,000 after buying an additional 741,517 shares during the period. Institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EXAS shares. TD Cowen lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a report on Thursday, January 22nd. Wolfe Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Leerink Partners downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.00.

Exact Sciences Trading Up 0.1%

Exact Sciences stock opened at $103.43 on Monday. The firm has a market cap of $19.74 billion, a price-to-earnings ratio of -94.03, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $103.54. The firm’s 50 day moving average price is $102.31 and its two-hundred day moving average price is $77.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. On average, research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.