ADAR1 Capital Management LLC Decreases Stake in Exact Sciences Co. (NASDAQ:EXAS)

ADAR1 Capital Management LLC decreased its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 67.1% in the fourth quarter, Holdings Channel reports. The fund owned 5,000 shares of the medical research company’s stock after selling 10,200 shares during the period. ADAR1 Capital Management LLC’s holdings in Exact Sciences were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of EXAS. Cerity Partners LLC boosted its position in shares of Exact Sciences by 65.9% during the 4th quarter. Cerity Partners LLC now owns 27,090 shares of the medical research company’s stock valued at $1,541,000 after acquiring an additional 10,761 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new position in Exact Sciences in the 4th quarter valued at about $4,158,000. Aviva PLC purchased a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $5,824,000. Rhenman & Partners Asset Management AB increased its holdings in shares of Exact Sciences by 1.3% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 471,000 shares of the medical research company’s stock worth $26,465,000 after buying an additional 6,000 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Exact Sciences during the 4th quarter valued at approximately $3,031,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 3.0 %

NASDAQ:EXAS opened at $43.83 on Tuesday. The stock has a fifty day moving average price of $48.40 and a 200 day moving average price of $56.71. 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 Co. has a 12-month low of $40.12 and a 12-month high of $74.44. The firm has a market cap of $8.14 billion, a PE ratio of -7.87 and a beta of 1.14.

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

Analyst Ratings Changes

EXAS has been the subject of several analyst reports. 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. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Royal Bank of Canada initiated coverage on Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price objective for the company. Guggenheim set a $60.00 target price on shares of Exact Sciences and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Barclays dropped their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.26.

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.