Tema Etfs LLC Purchases New Shares in Exact Sciences Co. (NASDAQ:EXAS)

Tema Etfs LLC bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,008 shares of the medical research company's stock, valued at approximately $843,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH acquired a new stake in shares of Exact Sciences during the 4th quarter worth approximately $215,000. Silvercrest Asset Management Group LLC lifted its stake in Exact Sciences by 8.7% during the fourth 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 during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Exact Sciences in the 4th quarter valued at $149,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Exact Sciences in the 4th quarter valued at $45,000. Finally, Polar Asset Management Partners Inc. increased its stake in shares of Exact Sciences by 20.1% in the 4th quarter. Polar Asset Management Partners Inc. now owns 81,997 shares of the medical research company's stock valued at $4,607,000 after purchasing an additional 13,697 shares during the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of EXAS traded down $0.92 during trading hours on Wednesday, hitting $56.89. The stock had a trading volume of 3,315,330 shares, compared to its average volume of 2,589,607. Exact Sciences Co. has a 12 month low of $39.97 and a 12 month high of $72.83. The stock has a fifty day moving average price of $46.88 and a 200 day moving average price of $52.03. 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 firm has a market capitalization of $10.73 billion, a PE ratio of -10.21 and a beta of 0.92.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same quarter in the previous year, the firm posted ($0.60) EPS. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on EXAS. Piper Sandler dropped their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Evercore ISI increased their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Royal Bank of Canada lifted their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Finally, Robert W. Baird raised their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Two research 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. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $70.90.

About Exact Sciences

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.