Jennison Associates LLC Has $100.68 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

Jennison Associates LLC increased its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 94.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,360,917 shares of the medical research company’s stock after purchasing an additional 659,235 shares during the period. Jennison Associates LLC owned approximately 0.75% of Exact Sciences worth $100,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Strategic Blueprint LLC increased its position in Exact Sciences by 3.1% during the 3rd quarter. Strategic Blueprint LLC now owns 5,449 shares of the medical research company’s stock worth $372,000 after purchasing an additional 163 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Exact Sciences by 29.5% during the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after buying an additional 176 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Exact Sciences by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 37,200 shares of the medical research company’s stock valued at $2,752,000 after acquiring an additional 205 shares during the last quarter. Finally, Capital Asset Advisory Services LLC boosted its holdings in shares of Exact Sciences by 7.2% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 3,463 shares of the medical research company’s stock valued at $232,000 after acquiring an additional 234 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Performance

Exact Sciences stock opened at $62.41 on Tuesday. Exact Sciences Co. has a 1-year low of $56.05 and a 1-year high of $100.77. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The firm’s 50 day simple moving average is $63.42 and its 200 day simple moving average is $65.04.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. The business had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.72) EPS. Analysts expect that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EXAS has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Benchmark upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Tuesday, January 2nd. TheStreet cut shares of Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Canaccord Genuity Group cut their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Citigroup restated a “buy” rating and issued a $100.00 price objective on shares of Exact Sciences in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $97.44.

Insider Transactions at Exact Sciences

In related news, General Counsel James Herriott sold 421 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the transaction, the general counsel now directly owns 6,494 shares in the company, valued at $398,926.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Exact Sciences news, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now directly owns 71,787 shares in the company, valued at $5,025,090. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel James Herriott sold 421 shares of Exact Sciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the transaction, the general counsel now owns 6,494 shares in the company, valued at approximately $398,926.42. The disclosure for this sale can be found here. Insiders have sold 69,113 shares of company stock valued at $4,165,273 in the last quarter. Insiders own 1.30% of the company’s stock.

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.