Cwm LLC Acquires 6,217 Shares of Exact Sciences Corporation (NASDAQ:EXAS)

CWM LLC raised its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 41.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,316 shares of the medical research company's stock after buying an additional 6,217 shares during the quarter. CWM LLC's holdings in Exact Sciences were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital World Investors grew its holdings in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after acquiring an additional 1,696,321 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 worth $323,669,000 after purchasing an additional 2,462,165 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Exact Sciences by 25.8% in 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 increased its position in Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock worth $175,165,000 after buying an additional 16,828 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Exact Sciences by 107.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after acquiring an additional 1,513,873 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Barclays dropped their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, June 24th. Mizuho initiated coverage on Exact Sciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target for the company. Robert W. Baird lifted their price target 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, Royal Bank Of Canada upped their price target on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.50.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the transaction, the director directly owned 72,759 shares of the company's stock, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Exact Sciences Trading Up 0.1%

Shares of Exact Sciences stock traded up $0.04 during trading on Thursday, hitting $48.45. The stock had a trading volume of 1,466,055 shares, compared to its average volume of 2,617,624. The company has a market capitalization of $9.14 billion, a PE ratio of -8.82, a P/E/G ratio of 10.64 and a beta of 0.95. The stock has a 50 day simple moving average of $54.15 and a 200 day simple moving average of $50.77. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. Exact Sciences Corporation 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 earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.60) EPS. On average, research analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

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.