Exact Sciences Co. (NASDAQ:EXAS) Shares Bought by Braidwell LP

Braidwell LP boosted its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 23.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 353,000 shares of the medical research company's stock after purchasing an additional 66,822 shares during the quarter. Braidwell LP owned approximately 0.19% of Exact Sciences worth $19,835,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp bought a new position in Exact Sciences in the 3rd quarter worth about $490,000. GAMMA Investing LLC increased its holdings in shares of Exact Sciences by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 3,674 shares of the medical research company's stock valued at $206,000 after purchasing an additional 828 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Exact Sciences in the fourth quarter worth about $356,000. Diversified Trust Co lifted its holdings in shares of Exact Sciences by 5.9% during the fourth quarter. Diversified Trust Co now owns 12,639 shares of the medical research company's stock worth $710,000 after purchasing an additional 708 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Exact Sciences by 35.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company's stock valued at $5,385,000 after buying an additional 24,992 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Trading Down 2.5 %

Shares of EXAS traded down $1.34 during trading hours on Friday, hitting $51.72. The stock had a trading volume of 1,975,218 shares, compared to its average volume of 2,613,726. The company's fifty day simple moving average is $45.52 and its 200 day simple moving average is $52.83. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83. 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 firm has a market cap of $9.76 billion, a P/E ratio of -9.29 and a beta of 0.92.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. The firm had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm's revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.60) EPS. Equities research analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Piper Sandler reduced their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Barclays raised their target price on Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird boosted their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Two 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.90.

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.