BI Asset Management Fondsmaeglerselskab A S Buys 17,630 Shares of Exact Sciences Co. (NASDAQ:EXAS)

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 662.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,290 shares of the medical research company's stock after acquiring an additional 17,630 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Exact Sciences were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Exact Sciences by 172.2% during the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company's stock worth $2,335,000 after buying an additional 21,683 shares in the last quarter. Synovus Financial Corp acquired a new position in Exact Sciences during the third quarter worth about $490,000. American Trust acquired a new position in Exact Sciences during the third quarter worth about $229,000. GAMMA Investing LLC lifted 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 worth $206,000 after acquiring an additional 828 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $43,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

Shares of EXAS traded down $0.09 during midday trading on Monday, hitting $45.37. 298,454 shares of the company traded hands, compared to its average volume of 2,599,652. The stock has a 50-day moving average of $45.34 and a 200-day moving average of $54.01. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences Co. has a one year low of $39.97 and a one year high of $72.83. The firm has a market cap of $8.43 billion, a P/E ratio of -8.14 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.23. The business 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 predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXAS shares. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Piper Sandler lowered their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Bank of America decreased their price target on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Barclays reduced their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada began coverage on Exact Sciences in a research report on Thursday, March 13th. They set a "sector perform" rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $69.25.

Exact Sciences Company 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.