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

Cinctive Capital Management LP raised its position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 1,220.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,351 shares of the medical research company's stock after purchasing an additional 103,841 shares during the period. Cinctive Capital Management LP owned 0.06% of Exact Sciences worth $6,313,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment bought a new stake in shares of Exact Sciences during the 3rd quarter valued at about $821,000. Norges Bank bought a new stake in Exact Sciences during the fourth quarter valued at approximately $50,625,000. Iron Triangle Partners LP purchased a new position in Exact Sciences in the 3rd quarter worth approximately $27,239,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Exact Sciences by 63.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company's stock worth $30,863,000 after buying an additional 213,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Exact Sciences during the 4th quarter valued at $9,611,000. Institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EXAS. Benchmark reaffirmed a "buy" rating and set a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Barclays cut their target price on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Royal Bank of Canada started coverage on shares of Exact Sciences in a research note on Thursday, March 13th. They issued a "sector perform" rating and a $52.00 price objective for the company. Finally, Scotiabank boosted their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and a consensus price target of $70.26.

Exact Sciences Trading Up 4.6 %

EXAS stock traded up $1.96 during trading on Monday, reaching $44.51. The company had a trading volume of 1,929,358 shares, compared to its average volume of 2,578,097. The business has a 50 day moving average of $48.64 and a 200 day moving average of $56.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The company has a market cap of $8.27 billion, a P/E ratio of -7.97 and a beta of 1.14. Exact Sciences Co. has a 52 week low of $40.34 and a 52 week high of $74.44.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. As a group, 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.