Harbour Investments Inc. Has $858,000 Stock Holdings in Exact Sciences Corporation (NASDAQ:EXAS)

Key Points

• Harbour Investments Inc. reduced its stake in Exact Sciences Corporation by 25.7%, selling 6,843 shares and holding 19,823 shares valued at approximately $858,000 following the transaction.
• Several hedge funds have increased their holdings in Exact Sciences, with Price T Rowe Associates boosting its stake by 74.7% to over 5.7 million shares, resulting in significant changes among institutional investors.
• Analysts have set varying price targets for Exact Sciences, with estimates ranging from $54.00 to $72.00, indicating a consensus of a moderate buy from research analysts.

Harbour Investments Inc. decreased its stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 25.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,823 shares of the medical research company's stock after selling 6,843 shares during the period. Harbour Investments Inc.'s holdings in Exact Sciences were worth $858,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Bank Pictet & Cie Europe AG increased its position in Exact Sciences by 1.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock valued at $7,250,000 after acquiring an additional 1,547 shares during the period. Geode Capital Management LLC increased its position in Exact Sciences by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock valued at $175,165,000 after acquiring an additional 16,828 shares during the period. Prudential PLC acquired a new stake in Exact Sciences in the 4th quarter valued at approximately $483,000. Resona Asset Management Co. Ltd. acquired a new stake in Exact Sciences in the 4th quarter valued at approximately $3,031,000. Finally, Aviva PLC acquired a new stake in Exact Sciences in the 4th quarter valued at approximately $5,824,000. Institutional investors own 88.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EXAS. Robert W. Baird raised their target price on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Evercore ISI lowered their target price on Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a research report on Friday. Royal Bank Of Canada restated a "sector perform" rating and issued a $46.00 target price (down from $54.00) on shares of Exact Sciences in a research report on Thursday. Cowen restated a "buy" rating on shares of Exact Sciences in a research report on Thursday. Finally, Barclays lowered their target price on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $68.62.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded down $1.92 during mid-day trading on Friday, reaching $41.24. The company had a trading volume of 4,136,951 shares, compared to its average volume of 2,732,257. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The stock has a market cap of $7.78 billion, a PE ratio of -7.64, a P/E/G ratio of 10.02 and a beta of 0.93. The company has a 50-day moving average price of $51.86 and a two-hundred day moving average price of $50.16. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued 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. The business had revenue of $811.09 million for the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative return on equity of 1.72% and a negative net margin of 34.19%. The company's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS. On average, equities analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Insider Activity at Exact Sciences

In other news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

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.