Fred Alger Management LLC Invests $30.82 Million in Exact Sciences Corporation $EXAS

Key Points

• Fred Alger Management LLC established a new position in Exact Sciences in Q3, buying 563,292 shares valued at approximately $30.82 million, representing about 0.30% of the company.
• Exact Sciences recently missed quarterly EPS expectations (reported -$0.21 vs. consensus +$0.08) despite revenue rising 23.1% year‑over‑year, and remains unprofitable with a negative P/E (~-94.15) and negative net margin.
• Analyst sentiment is muted: MarketBeat shows a consensus rating of "Reduce" with an average target of $92.13, while the stock trades near its 52‑week high (~$103.75) and the company has a market cap of about $19.8 billion.

Fred Alger Management LLC bought a new stake in Exact Sciences Corporation (NASDAQ:EXAS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 563,292 shares of the medical research company's stock, valued at approximately $30,818,000. Fred Alger Management LLC owned 0.30% of Exact Sciences at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company's stock valued at $31,000 after acquiring an additional 271 shares in the last quarter. Country Trust Bank bought a new position in shares of Exact Sciences in the second quarter worth $32,000. Quent Capital LLC acquired a new position in shares of Exact Sciences during the third quarter valued at $48,000. Bollard Group LLC acquired a new position in shares of Exact Sciences during the third quarter valued at $55,000. Finally, OFI Invest Asset Management raised its stake in shares of Exact Sciences by 241.2% during the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company's stock valued at $59,000 after purchasing an additional 767 shares in the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Trading Up 0.3%

Shares of EXAS stock opened at $103.57 on Monday. The stock has a 50-day simple moving average of $102.83 and a 200 day simple moving average of $84.12. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $103.75. The stock has a market capitalization of $19.77 billion, a P/E ratio of -94.15, a P/E/G ratio of 2.36 and a beta of 1.41. The company has a quick ratio of 2.17, a current ratio of 2.43 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The firm's revenue was up 23.1% on a year-over-year basis. On average, sell-side analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler downgraded shares of Exact Sciences from an "overweight" rating to a "hold" rating and set a $105.00 price objective for the company. in a report on Monday, November 24th. Robert W. Baird set a $105.00 price target on shares of Exact Sciences in a research report on Thursday, November 20th. Citigroup lowered shares of Exact Sciences from a "buy" rating to a "hold" rating in a research note on Thursday, November 20th. Zacks Research cut shares of Exact Sciences from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. Finally, Barclays reiterated an "equal weight" rating and set a $105.00 price objective (up from $77.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $92.13.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company's flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.

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