Avanza Fonder AB Sells 5,977 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Avanza Fonder AB decreased its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 30.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,535 shares of the medical research company's stock after selling 5,977 shares during the period. Avanza Fonder AB's holdings in Exact Sciences were worth $603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Exact Sciences by 10.7% during the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after buying an additional 1,696,321 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Exact Sciences by 74.7% during 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 buying an additional 2,462,165 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Exact Sciences by 25.8% during the 4th 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 buying an additional 876,985 shares in the last quarter. Geode Capital Management LLC grew its holdings in Exact Sciences by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock valued at $175,165,000 after buying an additional 16,828 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Exact Sciences by 107.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after buying an additional 1,513,873 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective 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. Bank of America cut 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. Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a report on Friday, April 11th. Robert W. Baird raised 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. Finally, Barclays raised their target price on shares of Exact Sciences from $55.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Two 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $70.90.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded down $0.22 during mid-day trading on Monday, reaching $53.30. The company had a trading volume of 2,819,782 shares, compared to its average volume of 2,601,318. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock has a market cap of $10.05 billion, a PE ratio of -9.57 and a beta of 0.98. The company has a 50-day moving average price of $51.25 and a two-hundred day moving average price of $51.98. 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 issued its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.16. The business had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Exact Sciences's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.60) earnings per share. On average, equities analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the sale, the director now directly owns 72,759 shares in the company, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

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.