Sei Investments Co. Sells 86,111 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Sei Investments Co. trimmed its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,159 shares of the medical research company’s stock after selling 86,111 shares during the quarter. Sei Investments Co. owned approximately 0.13% of Exact Sciences worth $13,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Groupama Asset Managment bought a new position in shares of Exact Sciences in the third quarter worth approximately $821,000. ArrowMark Colorado Holdings LLC bought a new stake in Exact Sciences in the 3rd quarter worth $28,608,000. Iron Triangle Partners LP purchased a new position in shares of Exact Sciences in the third quarter valued at about $27,239,000. Erste Asset Management GmbH bought a new position in shares of Exact Sciences during the third quarter valued at about $26,546,000. Finally, Bellevue Group AG boosted its holdings in shares of Exact Sciences by 25.1% during the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after purchasing an additional 290,585 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $43.66 on Friday. The firm has a market cap of $8.11 billion, a P/E ratio of -7.84 and a beta of 1.25. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $49.71 and a 200 day moving average of $57.80.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXAS. Piper Sandler reduced their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Barclays reduced their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. 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. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $70.26.

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.