30,536 Shares in Exact Sciences Co. (NASDAQ:EXAS) Bought by Fred Alger Management LLC

Fred Alger Management LLC bought a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 30,536 shares of the medical research company's stock, valued at approximately $2,080,000.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank increased its stake in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences during the third quarter valued at approximately $35,000. Vestor Capital LLC purchased a new position in Exact Sciences in the 3rd quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC bought a new position in Exact Sciences in the 3rd quarter valued at approximately $47,000. 88.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company's stock, valued at approximately $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy bought 19,500 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company's stock, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on EXAS shares. Canaccord Genuity Group reduced their target price on Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, November 21st. Piper Sandler lowered their target price on shares of Exact Sciences from $85.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Evercore ISI reduced their price target on shares of Exact Sciences from $80.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup decreased their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.29.

Exact Sciences Stock Performance

Shares of EXAS stock traded down $0.39 during trading hours on Monday, reaching $61.69. 1,801,722 shares of the company traded hands, compared to its average volume of 2,648,209. The firm has a 50-day moving average price of $63.85 and a 200 day moving average price of $56.05. The company has a market cap of $11.42 billion, a P/E ratio of -53.06 and a beta of 1.27. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Exact Sciences Co. will post -1.13 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.