Proficio Capital Partners LLC Invests $1.60 Million in Exact Sciences Co. (NASDAQ:EXAS)

Proficio Capital Partners LLC bought a new position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,545 shares of the medical research company's stock, valued at approximately $1,604,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position in Exact Sciences by 13.8% in the 3rd quarter. QRG Capital Management Inc. now owns 42,377 shares of the medical research company's stock valued at $2,887,000 after acquiring an additional 5,134 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Exact Sciences by 4.3% in the third quarter. Asset Management One Co. Ltd. now owns 68,615 shares of the medical research company's stock worth $4,674,000 after purchasing an additional 2,837 shares during the last quarter. NorthRock Partners LLC bought a new position in shares of Exact Sciences during the third quarter valued at $207,000. Crestwood Advisors Group LLC purchased a new stake in shares of Exact Sciences during the third quarter valued at $294,000. Finally, AIA Group Ltd increased its holdings in Exact Sciences by 7.6% in the 3rd quarter. AIA Group Ltd now owns 30,731 shares of the medical research company's stock worth $2,093,000 after buying an additional 2,179 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Price Performance

Exact Sciences stock traded down $2.09 during mid-day trading on Monday, hitting $44.97. The stock had a trading volume of 2,821,391 shares, compared to its average volume of 2,359,230. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm's 50 day moving average is $52.88 and its 200 day moving average is $59.35. The firm has a market capitalization of $8.35 billion, a P/E ratio of -8.07 and a beta of 1.25. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62.

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Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts' expectations of $701.45 million. On average, sell-side analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXAS has been the topic of several research analyst reports. Benchmark restated a "buy" rating and set a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Scotiabank increased their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. Bank of America cut their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, BTIG Research lifted their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.94.

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.