Exact Sciences Corporation $EXAS Shares Purchased by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. raised its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 60.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,109 shares of the medical research company’s stock after acquiring an additional 13,910 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Exact Sciences were worth $2,030,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Exact Sciences during the first quarter worth about $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Exact Sciences by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock valued at $921,000 after buying an additional 2,231 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Exact Sciences by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock valued at $215,000 after buying an additional 178 shares during the last quarter. Focus Partners Wealth raised its stake in Exact Sciences by 12.6% during the first quarter. Focus Partners Wealth now owns 21,548 shares of the medical research company’s stock valued at $933,000 after buying an additional 2,413 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Exact Sciences by 130.1% during the second quarter. Allworth Financial LP now owns 6,871 shares of the medical research company’s stock valued at $365,000 after buying an additional 3,885 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EXAS shares. Citigroup lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Piper Sandler lowered Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target on the stock. in a research report on Monday, November 24th. Guggenheim cut Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. TD Cowen downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Zacks Research lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Twenty-one analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Exact Sciences presently has an average rating of “Reduce” and an average target price of $92.13.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $103.57 on Friday. The firm’s 50 day moving average is $102.83 and its two-hundred day moving average is $83.86. The firm has a market capitalization of $19.77 billion, a P/E ratio of -94.15, a PEG ratio of 2.36 and a beta of 1.41. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $103.75.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same period last year, the company earned ($0.06) EPS. The firm’s revenue was up 23.1% on a year-over-year basis. Analysts anticipate that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Exact Sciences 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.