CIBC Private Wealth Group LLC Decreases Holdings in Exact Sciences Co. (NASDAQ:EXAS)

CIBC Private Wealth Group LLC lowered its position in Exact Sciences Co. (NASDAQ:EXAS) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,357 shares of the medical research company’s stock after selling 426 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Exact Sciences were worth $190,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC grew its holdings in Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after purchasing an additional 264 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Exact Sciences by 2.0% in the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after buying an additional 269 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Exact Sciences by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after acquiring an additional 300 shares during the last quarter. Patten & Patten Inc. TN increased its holdings in Exact Sciences by 1.8% during the 4th quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company’s stock valued at $1,470,000 after acquiring an additional 460 shares in the last quarter. Finally, Forsta AP Fonden raised its position in Exact Sciences by 1.3% during the fourth quarter. Forsta AP Fonden now owns 39,300 shares of the medical research company’s stock worth $2,208,000 after acquiring an additional 500 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXAS. Piper Sandler lowered their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America lowered their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Scotiabank lifted their price objective on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Finally, Royal Bank of Canada began coverage on shares of Exact Sciences in a report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 target price on the stock. Two 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, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.26.

Exact Sciences Stock Down 3.9 %

EXAS opened at $42.55 on Monday. The company has a market cap of $7.90 billion, a PE ratio of -7.64 and a beta of 1.14. 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 1 year low of $40.58 and a 1 year high of $74.44. The firm has a 50 day moving average price of $48.64 and a 200 day moving average price of $56.90.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 37.29% and a negative return on equity of 5.29%. Sell-side analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

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.