NuWave Investment Management LLC Reduces Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

NuWave Investment Management LLC lessened its stake in shares of Exact Sciences Co. (NASDAQ:EXASGet Rating) by 86.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 905 shares of the medical research company’s stock after selling 5,860 shares during the quarter. NuWave Investment Management LLC’s holdings in Exact Sciences were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. boosted its stake in Exact Sciences by 26.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 633 shares of the medical research company’s stock worth $49,000 after buying an additional 133 shares during the last quarter. Allworth Financial LP boosted its stake in Exact Sciences by 9.2% in the 4th quarter. Allworth Financial LP now owns 2,183 shares of the medical research company’s stock worth $170,000 after buying an additional 183 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Exact Sciences by 2.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,669 shares of the medical research company’s stock worth $675,000 after buying an additional 200 shares during the last quarter. EFG Asset Management Americas Corp. boosted its stake in Exact Sciences by 0.8% in the 4th quarter. EFG Asset Management Americas Corp. now owns 28,573 shares of the medical research company’s stock worth $2,224,000 after buying an additional 228 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Exact Sciences by 6.2% in the 4th quarter. ProShare Advisors LLC now owns 4,327 shares of the medical research company’s stock worth $337,000 after buying an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Exact Sciences stock opened at $42.24 on Friday. The stock’s 50 day moving average price is $51.28 and its 200 day moving average price is $66.06. The firm has a market capitalization of $7.43 billion, a PE ratio of -9.78 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.29 and a current ratio of 2.53. Exact Sciences Co. has a one year low of $35.34 and a one year high of $133.99.

Exact Sciences (NASDAQ:EXASGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The medical research company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.08. Exact Sciences had a negative return on equity of 21.82% and a negative net margin of 40.26%. The firm had revenue of $486.57 million for the quarter, compared to analyst estimates of $461.86 million. During the same period in the previous year, the company posted ($0.18) EPS. On average, analysts forecast that Exact Sciences Co. will post -4.25 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on Exact Sciences from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 19th. Craig Hallum reduced their price objective on Exact Sciences from $100.00 to $81.00 in a research note on Wednesday, April 27th. Citigroup reduced their price objective on Exact Sciences from $80.00 to $65.00 in a research note on Wednesday, April 27th. Raymond James reduced their price objective on Exact Sciences from $90.00 to $80.00 in a research note on Wednesday, April 27th. Finally, Robert W. Baird reduced their price objective on Exact Sciences from $100.00 to $90.00 in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $105.85.

Exact Sciences Profile (Get Rating)

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, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

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Institutional Ownership by Quarter for Exact Sciences (NASDAQ:EXAS)

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