ExodusPoint Capital Management LP Boosts Holdings in Exact Sciences Co. (NASDAQ:EXAS)

ExodusPoint Capital Management LP grew its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 223.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,791 shares of the medical research company’s stock after purchasing an additional 135,245 shares during the period. ExodusPoint Capital Management LP owned approximately 0.11% of Exact Sciences worth $11,001,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors increased its stake in Exact Sciences by 24.5% in the 3rd quarter. Captrust Financial Advisors now owns 9,433 shares of the medical research company’s stock worth $643,000 after acquiring an additional 1,854 shares during the last quarter. Investment Management Corp of Ontario purchased a new stake in Exact Sciences in the third quarter valued at approximately $417,000. IHT Wealth Management LLC bought a new stake in Exact Sciences during the third quarter valued at approximately $305,000. Quantinno Capital Management LP bought a new stake in Exact Sciences during the third quarter valued at approximately $223,000. Finally, Stifel Financial Corp grew its stake in Exact Sciences by 2.3% in the 3rd quarter. Stifel Financial Corp now owns 80,961 shares of the medical research company’s stock worth $5,515,000 after buying an additional 1,825 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 3.9 %

Shares of NASDAQ EXAS opened at $42.55 on Friday. The firm has a fifty day simple moving average of $48.64 and a two-hundred day simple moving average of $57.06. The firm has a market capitalization of $7.90 billion, a PE ratio of -7.64 and a beta of 1.14. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $74.44.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The business had revenue of $713.42 million for the quarter, compared to analysts’ expectations of $701.45 million. Equities analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXAS has been the subject of several research reports. Barclays cut their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Scotiabank increased their price objective on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Benchmark restated a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. Guggenheim set a $60.00 price target on shares of Exact Sciences and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Piper Sandler lowered their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $70.26.

About Exact Sciences

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.