Polar Asset Management Partners Inc. Acquires 13,697 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Polar Asset Management Partners Inc. raised its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 20.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 81,997 shares of the medical research company's stock after buying an additional 13,697 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Exact Sciences were worth $4,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors lifted its position in Exact Sciences by 10.7% in the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after purchasing an additional 1,696,321 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after buying an additional 2,462,165 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after buying an additional 876,985 shares during the period. Geode Capital Management LLC grew its holdings in Exact Sciences by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock worth $175,165,000 after buying an additional 16,828 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Exact Sciences by 107.7% in the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after acquiring an additional 1,513,873 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank boosted their price target 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. Evercore ISI raised their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Piper Sandler decreased their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Trading Down 2.6%

Shares of Exact Sciences stock traded down $1.48 during trading on Friday, hitting $56.14. The stock had a trading volume of 13,566,265 shares, compared to its average volume of 2,589,704. The stock has a 50 day simple moving average of $48.72 and a 200 day simple moving average of $52.04. The company has a market capitalization of $10.59 billion, a PE ratio of -10.08 and a beta of 0.92. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.60) earnings per share. On average, research analysts expect that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

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.