Avanza Fonder AB Reduces Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Avanza Fonder AB lowered its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 30.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,535 shares of the medical research company's stock after selling 5,977 shares during the quarter. Avanza Fonder AB's holdings in Exact Sciences were worth $603,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of EXAS. Asset Planning Inc acquired a new position in shares of Exact Sciences during the 4th quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Exact Sciences in the 4th quarter valued at about $45,000. AlphaQuest LLC grew its stake in Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock valued at $52,000 after acquiring an additional 913 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Exact Sciences in the 4th quarter valued at about $66,000. Finally, Ostrum Asset Management boosted its stake in shares of Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Mizuho assumed coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Scotiabank raised their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Finally, Bank of America decreased their price target on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.90.

Exact Sciences Trading Down 0.9%

NASDAQ EXAS traded down $0.49 during mid-day trading on Friday, hitting $53.52. The company's stock had a trading volume of 1,266,159 shares, compared to its average volume of 2,600,440. Exact Sciences Co. has a 52-week low of $39.97 and a 52-week high of $72.83. The stock's fifty day simple moving average is $50.99 and its two-hundred day simple moving average is $52.11. 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 firm has a market capitalization of $10.10 billion, a P/E ratio of -9.61 and a beta of 0.98.

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

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.