Granahan Investment Management LLC Decreases Stock Holdings in Exact Sciences Corporation $EXAS

Granahan Investment Management LLC trimmed its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 12.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,918 shares of the medical research company’s stock after selling 40,589 shares during the period. Granahan Investment Management LLC owned about 0.15% of Exact Sciences worth $15,424,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Exact Sciences in the first quarter worth about $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Exact Sciences by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock valued at $921,000 after purchasing an additional 2,231 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in Exact Sciences by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after buying an additional 178 shares during the period. Focus Partners Wealth lifted its holdings in Exact Sciences by 12.6% in the 1st quarter. Focus Partners Wealth now owns 21,548 shares of the medical research company’s stock worth $933,000 after buying an additional 2,413 shares during the period. Finally, Allworth Financial LP grew its position in shares of Exact Sciences by 130.1% in the 2nd quarter. Allworth Financial LP now owns 6,871 shares of the medical research company’s stock worth $365,000 after buying an additional 3,885 shares during the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EXAS shares. Evercore set a $105.00 target price on Exact Sciences and gave the company an “in-line” rating in a research note on Monday, January 5th. Guggenheim lowered Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Wolfe Research cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. William Blair downgraded shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 20th. Finally, Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Monday, November 24th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $92.13.

Exact Sciences Stock Up 0.3%

EXAS stock opened at $103.57 on Monday. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $103.75. The business’s 50 day moving average price is $102.83 and its two-hundred day moving average price is $84.12. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43. The company has a market capitalization of $19.77 billion, a price-to-earnings ratio of -94.15, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same period in the prior year, the business posted ($0.06) earnings per share. The business’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.