Exact Sciences Corporation $EXAS Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in Exact Sciences Corporation (NASDAQ:EXAS) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,044 shares of the medical research company’s stock after selling 5,932 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Exact Sciences were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Westside Investment Management Inc. lifted its position in Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after acquiring an additional 271 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Exact Sciences during the third quarter valued at approximately $48,000. Bollard Group LLC acquired a new position in shares of Exact Sciences during the third quarter worth $55,000. OFI Invest Asset Management boosted its stake in shares of Exact Sciences by 241.2% in the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 767 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Exact Sciences by 463.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 1,216 shares of the medical research company’s stock valued at $65,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

EXAS has been the subject of a number of analyst reports. BTIG Research reissued a “neutral” rating on shares of Exact Sciences in a research report on Tuesday, March 24th. Zacks Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Evercore set a $105.00 price objective on Exact Sciences and gave the company an “in-line” rating in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Exact Sciences in a report on Thursday, January 22nd. Finally, Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price (up from $85.00) on shares of Exact Sciences in a research report on Tuesday, January 20th. Twenty-one investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $92.13.

Exact Sciences Price Performance

EXAS opened at $104.91 on Friday. The company has a 50-day moving average of $103.57 and a 200-day moving average of $89.19. The company has a market capitalization of $20.03 billion, a P/E ratio of -95.37, a PEG ratio of 2.02 and a beta of 1.41. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $104.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.29). The company had revenue of $878.38 million for the quarter, compared to the consensus estimate of $860.59 million. Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. Equities analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.