Spyglass Capital Management LLC Has $95.17 Million Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Spyglass Capital Management LLC lowered its holdings in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,397,093 shares of the medical research company's stock after selling 21,498 shares during the quarter. Exact Sciences comprises approximately 6.2% of Spyglass Capital Management LLC's investment portfolio, making the stock its 4th largest holding. Spyglass Capital Management LLC owned about 0.75% of Exact Sciences worth $95,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Chicago Partners Investment Group LLC grew its holdings in shares of Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company's stock valued at $651,000 after buying an additional 158 shares during the last quarter. Amalgamated Bank boosted its stake in Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company's stock valued at $462,000 after purchasing an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company's stock valued at $49,000 after purchasing an additional 340 shares during the last quarter. Huntington National Bank increased its holdings in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Exact Sciences by 6.2% in the second quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company's stock valued at $258,000 after purchasing an additional 356 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Performance

NASDAQ EXAS traded up $0.39 during trading on Friday, hitting $62.08. 1,254,807 shares of the company's stock traded hands, compared to its average volume of 2,651,873. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of -52.47 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 business has a 50 day moving average of $64.01 and a 200-day moving average of $55.97.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EXAS shares. Piper Sandler decreased their price target on Exact Sciences from $85.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Robert W. Baird reduced their target price on shares of Exact Sciences from $70.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, TD Cowen increased their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.29.

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.