Exact Sciences Corporation (NASDAQ:EXAS) Stake Decreased by Banque Pictet & Cie SA

Banque Pictet & Cie SA lessened its position in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 23.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,854 shares of the medical research company's stock after selling 16,839 shares during the period. Banque Pictet & Cie SA's holdings in Exact Sciences were worth $2,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXAS. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Exact Sciences during the 1st quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Exact Sciences during the fourth quarter worth approximately $45,000. AlphaQuest LLC increased its position in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after acquiring an additional 913 shares in the last quarter. Ostrum Asset Management increased its position 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 worth $134,000 after acquiring an additional 527 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Exact Sciences in the 4th quarter valued at $149,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

EXAS traded down $1.41 during trading hours on Friday, hitting $51.91. 1,740,956 shares of the stock were exchanged, compared to its average volume of 2,578,314. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -9.42, a price-to-earnings-growth ratio of 11.39 and a beta of 0.95. The stock has a 50-day simple moving average of $54.36 and a 200-day simple moving average of $51.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.73 and a quick ratio of 2.38. Exact Sciences Corporation has a 12 month low of $39.97 and a 12 month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly 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 36.06% and a negative return on equity of 3.75%. The company had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same period last year, the firm posted ($0.60) EPS. The company's revenue for the quarter was up 10.9% on a year-over-year basis. Analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In related news, Director Katherine S. Zanotti sold 3,207 shares of the business'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 transaction of $170,612.40. Following the completion of the transaction, the director owned 72,759 shares in the company, valued at $3,870,778.80. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EXAS. Guggenheim reiterated a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Royal Bank Of Canada raised their target price on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Evercore ISI boosted their price target on Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday. Mizuho initiated coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price objective for the company. Finally, Robert W. Baird boosted their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences presently has an average rating of "Moderate Buy" and an average target price of $70.50.

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.