Spyglass Capital Management LLC Boosts Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Spyglass Capital Management LLC lifted its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,539,436 shares of the medical research company's stock after acquiring an additional 142,343 shares during the period. Exact Sciences makes up 4.9% of Spyglass Capital Management LLC's investment portfolio, 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.

Other hedge funds also recently made changes to their positions in the company. Asset Planning Inc bought a new stake in shares of Exact Sciences during the 4th quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Exact Sciences during the 4th quarter worth $45,000. AlphaQuest LLC lifted its holdings in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after acquiring an additional 913 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Exact Sciences during the 4th quarter worth $66,000. Finally, Ostrum Asset Management lifted its holdings in shares of Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock worth $134,000 after acquiring an additional 527 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Trading Up 0.8%

Shares of NASDAQ EXAS traded up $0.47 during midday trading on Friday, hitting $56.95. 2,057,391 shares of the company traded hands, compared to its average volume of 2,574,080. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The stock has a 50-day moving average price of $47.58 and a 200 day moving average price of $51.86. The firm has a market cap of $10.74 billion, a P/E ratio of -10.22 and a beta of 0.92.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EXAS. Mizuho began coverage on shares of Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 price objective for the company. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. Bank of America decreased their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada lifted their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Finally, Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of "Moderate Buy" and an average price target of $70.90.

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.