Woodline Partners LP Has $18.65 Million Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Woodline Partners LP cut its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 331,988 shares of the medical research company's stock after selling 59,467 shares during the period. Woodline Partners LP owned 0.18% of Exact Sciences worth $18,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. boosted its position in Exact Sciences by 17.8% in the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock valued at $13,585,000 after buying an additional 36,505 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Exact Sciences by 32.2% in the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company's stock valued at $534,000 after buying an additional 2,315 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Exact Sciences in the fourth quarter valued at about $478,000. Sanctuary Advisors LLC lifted its position in shares of Exact Sciences by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock worth $763,000 after purchasing an additional 269 shares in the last quarter. Finally, Slow Capital Inc. lifted its position in shares of Exact Sciences by 7.0% during the fourth quarter. Slow Capital Inc. now owns 82,001 shares of the medical research company's stock worth $4,608,000 after purchasing an additional 5,346 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXAS. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Scotiabank upped their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Robert W. Baird upped their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Evercore ISI upped their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Bank of America reduced their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $70.90.

Exact Sciences Stock Up 0.8%

Shares of NASDAQ:EXAS traded up $0.47 during midday trading on Friday, reaching $56.95. 2,057,391 shares of the company were exchanged, compared to its average volume of 2,560,261. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The stock has a fifty day simple moving average of $47.58 and a two-hundred day simple moving average of $51.84. The firm has a market cap of $10.74 billion, a PE ratio of -10.22 and a beta of 0.92.

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, beating analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same quarter last year, the firm earned ($0.60) earnings per share. The firm's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Exact Sciences Co. will post -0.58 earnings per share 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.