Deutsche Bank AG Has $40.87 Million Position in Exact Sciences Corporation (NASDAQ:EXAS)

Deutsche Bank AG cut its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 47.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 944,021 shares of the medical research company's stock after selling 856,191 shares during the quarter. Deutsche Bank AG owned approximately 0.50% of Exact Sciences worth $40,867,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG lifted its position in Exact Sciences by 1.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock worth $7,250,000 after acquiring an additional 1,547 shares during the period. Cerity Partners LLC lifted its position in Exact Sciences by 65.9% during the 4th quarter. Cerity Partners LLC now owns 27,090 shares of the medical research company's stock worth $1,541,000 after acquiring an additional 10,761 shares during the period. Invesco Ltd. lifted its position in Exact Sciences by 57.2% during the 4th quarter. Invesco Ltd. now owns 379,683 shares of the medical research company's stock worth $21,334,000 after acquiring an additional 138,089 shares during the period. Bank of Nova Scotia lifted its position in Exact Sciences by 42.4% during the 4th quarter. Bank of Nova Scotia now owns 15,994 shares of the medical research company's stock worth $899,000 after acquiring an additional 4,761 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in Exact Sciences by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 80,216 shares of the medical research company's stock worth $4,507,000 after acquiring an additional 500 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EXAS shares. BTIG Research cut their target price on Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Barclays dropped their price objective on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Piper Sandler dropped their price objective on Exact Sciences from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, August 11th. Cowen reaffirmed a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their price objective on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.43.

Insider Buying and Selling

In other news, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares in the company, valued at approximately $2,519,603.24. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $170,612.40. Following the transaction, the director owned 72,759 shares of the company's stock, valued at approximately $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Exact Sciences Trading Up 1.4%

Exact Sciences stock traded up $0.61 during midday trading on Friday, reaching $45.60. The stock had a trading volume of 3,885,891 shares, compared to its average volume of 3,811,439. The stock's 50-day simple moving average is $50.41 and its 200 day simple moving average is $49.63. The stock has a market capitalization of $8.63 billion, a PE ratio of -8.40, a price-to-earnings-growth ratio of 4.66 and a beta of 0.93. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%. The business had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Exact Sciences Corporation 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.