B. Metzler seel. Sohn & Co. AG Decreases Stake in Exact Sciences Co. (NASDAQ:EXAS)

B. Metzler seel. Sohn & Co. AG reduced its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 85.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,731 shares of the medical research company’s stock after selling 27,463 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Exact Sciences were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EXAS. Geode Capital Management LLC raised its stake in shares of Exact Sciences by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after buying an additional 7,873 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Exact Sciences by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock worth $74,785,000 after purchasing an additional 38,849 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Exact Sciences in the third quarter valued at approximately $821,000. Norges Bank purchased a new stake in shares of Exact Sciences during the 4th quarter valued at approximately $50,625,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Exact Sciences by 63.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock worth $30,863,000 after buying an additional 213,557 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $42.55 on Friday. The firm has a market capitalization of $7.90 billion, a PE ratio of -7.64 and a beta of 1.14. 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 $40.62 and a 12 month high of $74.44. The business’s 50-day moving average price is $48.64 and its 200-day moving average price is $57.06.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million for the quarter, compared to analysts’ expectations 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 forecast that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on EXAS. Bank of America dropped their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Scotiabank raised their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Benchmark reiterated a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Finally, Royal Bank of Canada started coverage on shares of Exact Sciences in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock 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.