Exact Sciences Co. (NASDAQ:EXAS) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,000 shares of the medical research company’s stock after purchasing an additional 16,949 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Exact Sciences were worth $7,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new stake in shares of Exact Sciences during the third quarter valued at about $821,000. ArrowMark Colorado Holdings LLC acquired a new stake in Exact Sciences during the 3rd quarter valued at approximately $28,608,000. Iron Triangle Partners LP purchased a new stake in Exact Sciences during the 3rd quarter worth approximately $27,239,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Exact Sciences by 63.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock valued at $30,863,000 after buying an additional 213,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Exact Sciences during the 4th quarter valued at approximately $9,611,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the topic of several recent analyst reports. Scotiabank upped their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Guggenheim set a $60.00 target price on shares of Exact Sciences and gave the company a “buy” rating in a research note on Friday. Benchmark reissued a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Royal Bank of Canada began coverage on Exact Sciences in a research note on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price objective on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.26.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS opened at $43.29 on Tuesday. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a market cap of $8.04 billion, a PE ratio of -7.77 and a beta of 1.25. The stock has a 50 day simple moving average of $49.54 and a 200-day simple moving average of $57.58. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

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