245,402 Shares in Exact Sciences Co. (NASDAQ:EXAS) Bought by Polar Capital Holdings Plc

Polar Capital Holdings Plc acquired a new position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 245,402 shares of the medical research company's stock, valued at approximately $13,789,000. Polar Capital Holdings Plc owned 0.13% of Exact Sciences at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new position in Exact Sciences in the fourth quarter worth about $40,000. AlphaQuest LLC raised its stake 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Exact Sciences during the 4th quarter worth approximately $66,000. Ostrum Asset Management raised its stake 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 in the last quarter. Finally, Fiduciary Trust Co bought a new position in shares of Exact Sciences during the 4th quarter worth approximately $201,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on EXAS. Bank of America reduced their price objective 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. Mizuho began coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $60.00 target price on the stock. Guggenheim reissued a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Robert W. Baird boosted their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada boosted 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. Two 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.90.

Exact Sciences Stock Performance

Shares of EXAS stock traded down $0.53 during trading hours on Wednesday, hitting $57.28. The company's stock had a trading volume of 878,845 shares, compared to its average volume of 2,584,364. The company has a 50 day moving average of $46.88 and a 200 day moving average of $52.03. The stock has a market cap of $10.81 billion, a PE ratio of -10.29 and a beta of 0.92. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. 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 released its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) 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 business had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same period in the prior year, the firm earned ($0.60) EPS. The business's revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

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.