Spyglass Capital Management LLC Grows Stock Position in Exact Sciences Co. (NASDAQ:EXAS)

Spyglass Capital Management LLC increased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,539,436 shares of the medical research company's stock after buying an additional 142,343 shares during the period. Exact Sciences comprises about 4.9% of Spyglass Capital Management LLC's holdings, making the stock its 8th biggest position. Spyglass Capital Management LLC owned about 0.83% of Exact Sciences worth $86,501,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Triglav Skladi D.O.O. purchased a new stake in Exact Sciences during the fourth quarter worth about $1,025,000. Tema Etfs LLC purchased a new stake in Exact Sciences during the 4th quarter worth about $843,000. Siemens Fonds Invest GmbH purchased a new stake in Exact Sciences during the 4th quarter worth about $215,000. Silvercrest Asset Management Group LLC lifted its holdings in Exact Sciences by 8.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 7,992 shares of the medical research company's stock worth $449,000 after purchasing an additional 641 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in Exact Sciences during the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of EXAS traded down $0.41 on Thursday, reaching $56.48. The company's stock had a trading volume of 2,680,348 shares, compared to its average volume of 2,589,879. 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 stock has a market capitalization of $10.65 billion, a P/E ratio of -10.14 and a beta of 0.92. The stock's 50 day simple moving average is $47.12 and its two-hundred day simple moving average is $52.06. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. The company 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 firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.60) earnings per share. Research analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays boosted their price objective on Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Bank of America cut their price target on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Robert W. Baird boosted their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Piper Sandler cut their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Exact Sciences currently 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.