Exact Sciences Co. (NASDAQ:EXAS) Stock Holdings Increased by Gagnon Securities LLC

Gagnon Securities LLC grew its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,204 shares of the medical research company's stock after purchasing an additional 12,621 shares during the period. Exact Sciences makes up approximately 2.8% of Gagnon Securities LLC's portfolio, making the stock its 11th biggest holding. Gagnon Securities LLC owned about 0.13% of Exact Sciences worth $13,834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Baader Bank Aktiengesellschaft purchased a new stake in shares of Exact Sciences in the fourth quarter valued at $4,329,000. Swedbank AB lifted its stake in shares of Exact Sciences by 76.1% during the 4th quarter. Swedbank AB now owns 30,848 shares of the medical research company's stock worth $1,733,000 after purchasing an additional 13,333 shares during the period. Forsta AP Fonden increased its position in Exact Sciences by 1.3% during the fourth quarter. Forsta AP Fonden now owns 39,300 shares of the medical research company's stock worth $2,208,000 after purchasing an additional 500 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Exact Sciences by 37.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 37,286 shares of the medical research company's stock worth $2,095,000 after buying an additional 10,165 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in Exact Sciences by 3.2% during the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company's stock valued at $474,000 after acquiring an additional 264 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company's stock, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Exact Sciences Price Performance

Shares of NASDAQ EXAS traded up $0.75 during trading hours on Wednesday, reaching $55.50. 686,966 shares of the stock traded hands, compared to its average volume of 2,252,718. The company's 50-day simple moving average is $57.75 and its two-hundred day simple moving average is $60.00. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a market capitalization of $10.27 billion, a P/E ratio of -47.46 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Exact Sciences Co. will post -1.1 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on EXAS. William Blair restated an "outperform" rating on shares of Exact Sciences in a report on Monday, January 13th. BTIG Research increased their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $75.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their price target on shares of Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Piper Sandler lowered their target price on Exact Sciences from $85.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.76.

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.