Tidal Investments LLC Grows Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Tidal Investments LLC boosted its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 172.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,275 shares of the medical research company's stock after buying an additional 21,683 shares during the quarter. Tidal Investments LLC's holdings in Exact Sciences were worth $2,335,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Huntington National Bank lifted its stake in Exact Sciences by 838.1% in 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. Itau Unibanco Holding S.A. purchased a new position in Exact Sciences during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $35,000. Finally, Vestor Capital LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at approximately $46,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Performance

NASDAQ:EXAS traded down $0.50 during midday trading on Monday, reaching $60.75. The stock had a trading volume of 1,694,668 shares, compared to its average volume of 2,618,910. The firm has a fifty day simple moving average of $62.56 and a two-hundred day simple moving average of $56.98. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The stock has a market cap of $11.24 billion, a P/E ratio of -51.92 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results 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 analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business's revenue was up 12.8% on a year-over-year basis. On average, equities analysts expect that Exact Sciences Co. will post -1.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXAS. BTIG Research upped their price target on Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, November 21st. Canaccord Genuity Group lowered their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price objective on Exact Sciences from $84.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Bank of America reduced their price target on Exact Sciences from $75.00 to $72.00 and set a "buy" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $72.94.

Insiders Place Their Bets

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

Exact Sciences Company 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.