PDT Partners LLC Sells 34,584 Shares of Exact Sciences Co. (NASDAQ:EXAS)

PDT Partners LLC lessened its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 77.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,226 shares of the medical research company's stock after selling 34,584 shares during the period. PDT Partners LLC's holdings in Exact Sciences were worth $575,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Asset Planning Inc acquired a new stake in Exact Sciences in the 4th quarter valued at about $40,000. Modus Advisors LLC acquired a new stake in Exact Sciences during the fourth quarter valued at approximately $43,000. AlphaQuest LLC boosted its holdings in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in Exact Sciences in the fourth quarter worth approximately $66,000. Finally, Ostrum Asset Management increased its holdings in shares of Exact Sciences by 28.4% in the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock valued at $134,000 after buying an additional 527 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Price Performance

Shares of Exact Sciences stock traded up $4.39 during trading on Friday, reaching $51.55. The company's stock had a trading volume of 6,908,837 shares, compared to its average volume of 2,637,409. The stock has a 50-day moving average price of $45.02 and a two-hundred day moving average price of $53.20. The stock has a market capitalization of $9.72 billion, a P/E ratio of -9.25 and a beta of 0.92. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a one year low of $39.97 and a one year high of $72.83.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays boosted their target price on Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler reduced their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Scotiabank lifted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Finally, Royal Bank of Canada lifted their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.90.

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.