ExodusPoint Capital Management LP Increases Position in Exact Sciences Co. (NASDAQ:EXAS)

ExodusPoint Capital Management LP grew its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 223.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 195,791 shares of the medical research company’s stock after acquiring an additional 135,245 shares during the period. ExodusPoint Capital Management LP’s holdings in Exact Sciences were worth $11,001,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EXAS. Cinctive Capital Management LP boosted its stake in Exact Sciences by 1,220.2% in the 4th quarter. Cinctive Capital Management LP now owns 112,351 shares of the medical research company’s stock worth $6,313,000 after purchasing an additional 103,841 shares in the last quarter. Groupama Asset Managment lifted its stake in shares of Exact Sciences by 0.3% in the fourth quarter. Groupama Asset Managment now owns 1,209,146 shares of the medical research company’s stock worth $67,942,000 after buying an additional 4,194 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock valued at $175,165,000 after buying an additional 16,828 shares during the last quarter. Tradewinds LLC. bought a new stake in shares of Exact Sciences during the fourth quarter valued at approximately $371,000. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in Exact Sciences by 12.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 267,648 shares of the medical research company’s stock worth $15,039,000 after acquiring an additional 29,026 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank lifted their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Royal Bank of Canada initiated coverage on Exact Sciences in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 target price for the company. Barclays dropped their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Finally, Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.26.

Exact Sciences Stock Down 3.9 %

EXAS opened at $42.55 on Friday. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $74.44. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of -7.64 and a beta of 1.14. The firm’s fifty day moving average is $48.64 and its 200 day moving average is $57.06.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS 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 the consensus estimate of $701.45 million. On average, sell-side analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

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.