Soros Fund Management LLC Has $27.92 Million Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Soros Fund Management LLC increased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 31.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,938 shares of the medical research company's stock after acquiring an additional 118,348 shares during the period. Soros Fund Management LLC owned about 0.27% of Exact Sciences worth $27,923,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in Exact Sciences by 172.2% during the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company's stock worth $2,335,000 after acquiring an additional 21,683 shares during the last quarter. Synovus Financial Corp acquired a new position in Exact Sciences during the third quarter worth $490,000. American Trust bought a new position in Exact Sciences in the third quarter valued at $229,000. GAMMA Investing LLC grew its position in Exact Sciences by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 3,674 shares of the medical research company's stock valued at $206,000 after purchasing an additional 828 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in Exact Sciences in the 4th quarter valued at $43,000. 88.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EXAS shares. William Blair restated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Benchmark restated a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Evercore ISI upped their price objective on Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday. Royal Bank of Canada raised their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Barclays upped their price target on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday. 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.90.

Exact Sciences Stock Performance

Shares of EXAS stock traded up $4.39 on Friday, hitting $51.55. The company's stock had a trading volume of 6,908,837 shares, compared to its average volume of 2,633,416. Exact Sciences Co. has a fifty-two week low of $39.97 and a fifty-two week 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's 50 day moving average is $44.99 and its 200-day moving average is $53.55. The company has a market capitalization of $9.58 billion, a PE ratio of -9.25 and a beta of 1.14.

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

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.