KBC Group NV Sells 200,000 Shares of Exact Sciences Corporation (NASDAQ:EXAS)

KBC Group NV lowered its position in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 87.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 27,742 shares of the medical research company's stock after selling 200,000 shares during the quarter. KBC Group NV's holdings in Exact Sciences were worth $1,201,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Exact Sciences in the 1st quarter worth about $34,000. Artemis Investment Management LLP increased its holdings in Exact Sciences by 5.0% in the 1st quarter. Artemis Investment Management LLP now owns 268,600 shares of the medical research company's stock worth $11,628,000 after acquiring an additional 12,758 shares during the last quarter. Beech Hill Advisors Inc. increased its holdings in Exact Sciences by 29.0% in the 1st quarter. Beech Hill Advisors Inc. now owns 59,911 shares of the medical research company's stock worth $2,594,000 after acquiring an additional 13,476 shares during the last quarter. Goldstein Advisors LLC increased its holdings in Exact Sciences by 113.8% in the 1st quarter. Goldstein Advisors LLC now owns 12,254 shares of the medical research company's stock worth $530,000 after acquiring an additional 6,523 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Exact Sciences by 298.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 148,629 shares of the medical research company's stock worth $6,434,000 after acquiring an additional 111,343 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analysts Set New Price Targets

EXAS has been the subject of several analyst reports. 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. Guggenheim restated a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research note on Friday, April 11th. Evercore ISI raised their target price on Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Mizuho initiated coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and a consensus target price of $70.40.

Insiders Place Their Bets

In related news, 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 completion of the sale, the director owned 72,759 shares in the company, valued at $3,870,778.80. The trade was a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Exact Sciences Price Performance

Shares of EXAS traded down $1.05 during trading hours on Friday, reaching $52.82. 1,668,708 shares of the company's stock traded hands, compared to its average volume of 2,583,850. The stock has a market cap of $9.96 billion, a PE ratio of -9.59, a price-to-earnings-growth ratio of 11.39 and a beta of 0.95. 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 firm's 50 day simple moving average is $53.73 and its 200-day simple moving average is $51.19. Exact Sciences Corporation has a 12 month low of $39.97 and a 12 month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. Exact Sciences's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.60) EPS. Equities 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.