Tidal Investments LLC Reduces Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Tidal Investments LLC trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 63.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,614 shares of the medical research company's stock after selling 21,661 shares during the quarter. Tidal Investments LLC's holdings in Exact Sciences were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Tema Etfs LLC acquired a new position in shares of Exact Sciences in the 4th quarter valued at $843,000. Siemens Fonds Invest GmbH purchased a new position in shares of Exact Sciences during the 4th quarter valued at about $215,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Exact Sciences by 8.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 7,992 shares of the medical research company's stock valued at $449,000 after buying an additional 641 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Exact Sciences in the fourth quarter worth about $149,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Exact Sciences in the fourth quarter valued at $45,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXAS. Mizuho started coverage on Exact Sciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price objective on the stock. Evercore ISI increased their price target on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Robert W. Baird raised their target price on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Scotiabank boosted their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $70.90.

Exact Sciences Stock Down 2.6%

Exact Sciences stock traded down $1.48 during mid-day trading on Friday, reaching $56.14. 13,566,265 shares of the company's stock were exchanged, compared to its average volume of 2,589,704. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a twelve month low of $39.97 and a twelve month high of $72.83. The company has a market cap of $10.59 billion, a P/E ratio of -10.08 and a beta of 0.92. The company has a fifty day moving average of $48.72 and a 200-day moving average of $52.05.

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