BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 126,802 Shares of Exact Sciences Co. (NASDAQ:EXAS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 115.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 236,617 shares of the medical research company's stock after acquiring an additional 126,802 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.13% of Exact Sciences worth $13,296,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EXAS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Exact Sciences by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,421,671 shares of the medical research company's stock valued at $79,884,000 after acquiring an additional 81,774 shares during the period. Vident Advisory LLC grew its position in shares of Exact Sciences by 22.4% in the 4th quarter. Vident Advisory LLC now owns 22,447 shares of the medical research company's stock valued at $1,261,000 after purchasing an additional 4,110 shares during the period. Spyglass Capital Management LLC increased its stake in Exact Sciences by 10.2% during the 4th quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company's stock worth $86,501,000 after purchasing an additional 142,343 shares in the last quarter. Triglav Skladi D.O.O. acquired a new stake in Exact Sciences during the 4th quarter worth approximately $1,025,000. Finally, Tema Etfs LLC bought a new position in Exact Sciences in the fourth quarter valued at approximately $843,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of research reports. Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Barclays increased their target price on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Mizuho began coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Finally, Piper Sandler decreased their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS traded up $1.29 during midday trading on Wednesday, hitting $57.85. The stock had a trading volume of 523,811 shares, compared to its average volume of 2,551,489. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a market capitalization of $10.91 billion, a P/E ratio of -10.37 and a beta of 0.92. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company's 50-day moving average price is $48.05 and its 200-day moving average price is $51.90.

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, topping analysts' consensus estimates of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to analysts' expectations 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 was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.60) EPS. As a group, equities research analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

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.