GAMMA Investing LLC Grows Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

GAMMA Investing LLC raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 4,899.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,679 shares of the medical research company's stock after buying an additional 180,005 shares during the period. GAMMA Investing LLC owned about 0.10% of Exact Sciences worth $7,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Planning Inc purchased a new stake in Exact Sciences in the 4th quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Exact Sciences during the fourth quarter valued at $45,000. AlphaQuest LLC raised its holdings in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock valued at $52,000 after acquiring an additional 913 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Exact Sciences during the 4th quarter valued at $66,000. Finally, Ostrum Asset Management grew its position in shares of Exact Sciences by 28.4% in the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Down 3.0%

Shares of EXAS stock traded down $1.65 during trading hours on Thursday, hitting $54.01. The company had a trading volume of 1,916,020 shares, compared to its average volume of 2,604,569. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The company's fifty day moving average is $50.53 and its 200 day moving average is $52.22. The stock has a market capitalization of $10.19 billion, a PE ratio of -9.70 and a beta of 0.98.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (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 analyst estimates of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Exact Sciences's revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.60) EPS. Research analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

EXAS has been the subject of several recent analyst reports. Barclays raised their target price on shares of Exact Sciences from $55.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Bank of America decreased their price objective on Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Piper Sandler dropped their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird upped their target price on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Evercore ISI raised their price target on Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.90.

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.