Harbor Capital Advisors Inc. Sells 46,455 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Harbor Capital Advisors Inc. lowered its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 48.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 49,372 shares of the medical research company's stock after selling 46,455 shares during the period. Harbor Capital Advisors Inc.'s holdings in Exact Sciences were worth $2,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Asset Planning Inc acquired a new stake in Exact Sciences during the 4th quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Exact Sciences during the 4th quarter worth approximately $45,000. AlphaQuest LLC lifted its holdings in Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after buying an additional 913 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Exact Sciences during the 4th quarter worth approximately $66,000. Finally, Ostrum Asset Management lifted its holdings in Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after buying an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Down 0.9%

EXAS traded down $0.49 on Friday, reaching $53.52. 1,266,159 shares of the company traded hands, compared to its average volume of 2,600,440. The stock's 50 day moving average price is $50.99 and its 200-day moving average price is $52.04. Exact Sciences Co. has a 52-week low of $39.97 and a 52-week high of $72.83. The company has a market cap of $10.10 billion, a price-to-earnings ratio of -9.61 and a beta of 0.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised their price objective 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. Bank of America reduced their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Evercore ISI raised their price objective on shares of Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Finally, Mizuho started coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price target on the stock. Two 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $70.90.

Exact Sciences 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.