Altium Capital Management LLC Invests $5.62 Million in Exact Sciences Co. (NASDAQ:EXAS)

Altium Capital Management LLC acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the medical research company's stock, valued at approximately $5,619,000. Exact Sciences comprises approximately 1.6% of Altium Capital Management LLC's holdings, making the stock its 22nd largest holding. Altium Capital Management LLC owned about 0.05% of Exact Sciences as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in Exact Sciences by 172.2% in the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company's stock valued at $2,335,000 after buying an additional 21,683 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $490,000. American Trust purchased a new stake in Exact Sciences during the 3rd quarter worth about $229,000. GAMMA Investing LLC boosted its stake in Exact Sciences by 29.1% in the 4th quarter. GAMMA Investing LLC now owns 3,674 shares of the medical research company's stock worth $206,000 after purchasing an additional 828 shares during the period. Finally, Modus Advisors LLC purchased a new position in Exact Sciences during the 4th quarter valued at about $43,000. Institutional investors own 88.82% of the company's stock.

Exact Sciences Price Performance

Shares of EXAS stock traded up $0.14 on Wednesday, reaching $44.29. The company's stock had a trading volume of 682,346 shares, compared to its average volume of 2,605,253. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of -7.95 and a beta of 1.14. The stock's fifty day simple moving average is $45.60 and its 200-day simple moving average is $54.62. 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 1 year low of $39.97 and a 1 year high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $701.45 million. Analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EXAS shares. Mizuho assumed coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price objective for the company. Bank of America lowered their price objective on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Benchmark reissued a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Finally, William Blair reissued an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.25.

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.