Swiss National Bank Sells 25,800 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Swiss National Bank reduced its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 521,880 shares of the medical research company’s stock after selling 25,800 shares during the period. Swiss National Bank owned 0.28% of Exact Sciences worth $29,324,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EXAS. Huntington National Bank raised its position in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences during the 3rd quarter worth $34,000. Asset Planning Inc bought a new position in Exact Sciences during the 4th quarter worth $40,000. Modus Advisors LLC bought a new position in shares of Exact Sciences in the 4th quarter worth about $43,000. Finally, AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. Bank of America lowered their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Barclays lowered their price objective on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. TD Cowen lifted their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada assumed coverage on Exact Sciences in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.83.

Exact Sciences Price Performance

EXAS stock opened at $45.18 on Tuesday. The company has a market capitalization of $8.39 billion, a P/E ratio of -8.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The business has a 50-day simple moving average of $51.48 and a two-hundred day simple moving average of $58.70.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Research analysts expect that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

About Exact Sciences

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.