Inceptionr LLC Buys Shares of 7,230 Exact Sciences Co. (NASDAQ:EXAS)

Inceptionr LLC acquired a new position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,230 shares of the medical research company's stock, valued at approximately $406,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. grew its stake in Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock worth $13,585,000 after buying an additional 36,505 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company's stock valued at $12,388,000 after acquiring an additional 172,821 shares in the last quarter. Simplify Asset Management Inc. boosted its position in Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company's stock worth $1,994,000 after purchasing an additional 11,800 shares during the period. Zacks Investment Management acquired a new stake in Exact Sciences in the 3rd quarter valued at $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company's stock valued at $22,868,000 after purchasing an additional 125,192 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

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Exact Sciences Stock Performance

Shares of Exact Sciences stock traded up $0.46 during trading hours on Wednesday, reaching $46.35. The company's stock had a trading volume of 1,524,598 shares, compared to its average volume of 2,319,077. 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 company's 50 day simple moving average is $52.45 and its 200 day simple moving average is $59.15. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The stock has a market cap of $8.61 billion, a P/E ratio of -8.32 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. As a group, analysts expect that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Scotiabank upped their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Piper Sandler lowered their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. BTIG Research lifted 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. TD Cowen upped their target price on shares of Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, 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 research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.94.

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.