Focus Financial Network Inc. Trims Stake in Exact Sciences Co. (NASDAQ:EXAS)

Focus Financial Network Inc. lessened its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 8.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,608 shares of the medical research company’s stock after selling 312 shares during the quarter. Focus Financial Network Inc.’s holdings in Exact Sciences were worth $203,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in EXAS. Kestra Private Wealth Services LLC boosted its position in shares of Exact Sciences by 22.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,387 shares of the medical research company’s stock valued at $471,000 after acquiring an additional 1,564 shares during the last quarter. Thompson Investment Management Inc. lifted its position in Exact Sciences by 17.8% during 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 purchasing an additional 36,505 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Exact Sciences in the 4th quarter worth approximately $223,000. abrdn plc increased its holdings in shares of Exact Sciences by 843.0% in the 4th quarter. abrdn plc now owns 61,641 shares of the medical research company’s stock worth $3,464,000 after buying an additional 55,104 shares during the last quarter. Finally, Chicago Capital LLC raised its position in shares of Exact Sciences by 126.5% during the 4th quarter. Chicago Capital LLC now owns 10,080 shares of the medical research company’s stock valued at $566,000 after buying an additional 5,629 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

EXAS opened at $49.31 on Friday. The stock’s 50 day moving average price is $56.15 and its 200-day moving average price is $60.09. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a market capitalization of $9.13 billion, a PE ratio of -42.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Analyst Upgrades and Downgrades

EXAS has been the subject of several research reports. Jefferies Financial Group upped their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays assumed coverage on Exact Sciences in a research report on Thursday, January 23rd. They set an “overweight” rating and a $70.00 price objective on the stock. Sanford C. Bernstein upped their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.76.

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.