Exact Sciences Co. (NASDAQ:EXAS) Stake Boosted by Chicago Capital LLC

Chicago Capital LLC raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 126.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,080 shares of the medical research company’s stock after buying an additional 5,629 shares during the quarter. Chicago Capital LLC’s holdings in Exact Sciences were worth $566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank lifted its holdings in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the third quarter valued at approximately $35,000. Vestor Capital LLC bought a new stake in Exact Sciences in the third quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Exact Sciences during the 3rd quarter worth $47,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on EXAS. Citigroup reduced their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Barclays started coverage on Exact Sciences in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $70.00 price target for the company. Craig Hallum lowered their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, BTIG Research upped their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.76.

Exact Sciences Stock Down 1.4 %

EXAS stock opened at $55.24 on Tuesday. The business’s 50-day simple moving average is $57.85 and its 200 day simple moving average is $59.95. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $10.22 billion, a PE ratio of -47.21 and a beta of 1.24. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts anticipate that Exact Sciences Co. will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.36% of the company’s stock.

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.