M&T Bank Corp Sells 1,293 Shares of Exact Sciences Co. (NASDAQ:EXAS)

M&T Bank Corp lowered its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,963 shares of the medical research company’s stock after selling 1,293 shares during the period. M&T Bank Corp’s holdings in Exact Sciences were worth $447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thompson Investment Management Inc. raised its position in shares of Exact Sciences by 17.8% in the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after purchasing an additional 36,505 shares during the period. Simplify Asset Management Inc. raised its position in shares of Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after purchasing an additional 11,800 shares during the period. Zacks Investment Management bought a new stake in shares of Exact Sciences in the third quarter valued at approximately $2,083,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after purchasing an additional 125,192 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Exact Sciences by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after purchasing an additional 45,015 shares during the period. Institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EXAS shares. Royal Bank of Canada started coverage on shares of Exact Sciences in a research note on Thursday. They set a “sector perform” rating and a $52.00 price objective for the company. Piper Sandler reduced their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and set a $65.00 price objective 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 for the company in a research note on Thursday, February 20th. Finally, Scotiabank boosted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.83.

Exact Sciences Trading Down 7.1 %

Shares of EXAS opened at $43.04 on Friday. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of -7.73 and a beta of 1.25. 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 fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm has a 50 day moving average price of $52.26 and a 200-day moving average price of $59.06.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The firm 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%. As a group, equities research analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Exact Sciences 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.