Mitsubishi UFJ Trust & Banking Corp Has $4.50 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,058 shares of the medical research company’s stock after selling 1,203 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Exact Sciences were worth $4,498,000 at the end of the most recent reporting period.

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

Exact Sciences Stock Performance

EXAS stock opened at $43.66 on Monday. The business has a 50 day moving average of $49.71 and a 200-day moving average of $57.75. The firm has a market cap of $8.11 billion, a PE ratio of -7.84 and a beta of 1.25. Exact Sciences Co. has a 12-month low of $40.62 and a 12-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.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million for 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, sell-side analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EXAS. Barclays dropped their target price 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. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Finally, Scotiabank boosted their price objective on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.26.

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.