Exact Sciences Corporation (NASDAQ:EXAS) Holdings Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 62.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,645 shares of the medical research company's stock after selling 14,156 shares during the period. Assenagon Asset Management S.A.'s holdings in Exact Sciences were worth $374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXAS. Price T Rowe Associates Inc. MD lifted its holdings 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 acquiring an additional 2,462,165 shares during the period. Capital World Investors lifted its holdings in shares of 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 worth $985,439,000 after acquiring an additional 1,696,321 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of 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 worth $164,037,000 after acquiring an additional 1,513,873 shares during the period. Norges Bank purchased a new position in shares of Exact Sciences during the 4th quarter worth about $50,625,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 worth $239,922,000 after acquiring an additional 876,985 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total transaction of $170,612.40. Following the sale, the director now directly owns 72,759 shares in the company, valued at $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company's stock.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS traded down $0.48 on Monday, reaching $52.54. 2,211,702 shares of the company's stock were exchanged, compared to its average volume of 2,571,950. Exact Sciences Corporation has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of -9.54, a PEG ratio of 40.25 and a beta of 0.98. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. The business's 50-day moving average is $52.04 and its two-hundred day moving average is $51.64.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings results 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 net margin of 36.06% and a negative return on equity of 3.75%. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same quarter in the previous year, the company posted ($0.60) earnings per share. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EXAS shares. Scotiabank increased their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a report on Monday, February 24th. Robert W. Baird increased their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Royal Bank Of Canada increased their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Finally, Mizuho started coverage on shares of Exact Sciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price target on the stock. Two research 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $70.90.

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.