JFG Wealth Management LLC Invests $255,000 in Exact Sciences Co. (NASDAQ:EXAS)

JFG Wealth Management LLC acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,544 shares of the medical research company’s stock, valued at approximately $255,000.

Several other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB purchased a new stake in Exact Sciences during the 3rd quarter valued at about $724,000. Signaturefd LLC lifted its holdings in shares of Exact Sciences by 53.7% during the third quarter. Signaturefd LLC now owns 1,652 shares of the medical research company’s stock worth $113,000 after purchasing an additional 577 shares during the period. International Assets Investment Management LLC purchased a new stake in Exact Sciences in the third quarter valued at approximately $11,257,000. Ballentine Partners LLC acquired a new position in Exact Sciences in the 3rd quarter worth approximately $232,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Exact Sciences during the 3rd quarter worth approximately $49,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

EXAS opened at $50.18 on Wednesday. The firm’s fifty day simple moving average is $54.52 and its two-hundred day simple moving average is $59.95. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a market cap of $9.32 billion, a price-to-earnings ratio of -9.01 and a beta of 1.24. 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 issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Equities analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on EXAS shares. Evercore ISI dropped their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Stifel Nicolaus lowered their target price on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group dropped their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Piper Sandler decreased their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.24.

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.