Syon Capital LLC Purchases New Stake in Exact Sciences Co. (NASDAQ:EXAS)

Syon Capital LLC bought a new stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,520 shares of the medical research company's stock, valued at approximately $760,000.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Exact Sciences by 74.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after acquiring an additional 2,462,165 shares during the period. Capital World Investors boosted its position in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after purchasing an additional 1,696,321 shares during the period. Norges Bank acquired a new position in shares of Exact Sciences in the fourth quarter valued at $50,625,000. T. Rowe Price Investment Management Inc. raised its position in shares of Exact Sciences by 25.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock valued at $239,922,000 after purchasing an additional 876,985 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Exact Sciences by 63.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company's stock worth $30,863,000 after buying an additional 213,557 shares during the period. Institutional investors own 88.82% of the company's stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS traded down $0.71 on Tuesday, hitting $44.89. The company's stock had a trading volume of 754,180 shares, compared to its average volume of 2,346,802. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The company has a market capitalization of $8.34 billion, a PE ratio of -8.06 and a beta of 1.14. The company has a 50-day simple moving average of $45.24 and a 200 day simple moving average of $53.84. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Piper Sandler reduced their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Mizuho assumed coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target for the company. Bank of America cut their target price on Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $69.25.

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.