Exact Sciences Corporation $EXAS Shares Purchased by Spyglass Capital Management LLC

Spyglass Capital Management LLC raised its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 56.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,125,435 shares of the medical research company’s stock after buying an additional 766,772 shares during the quarter. Exact Sciences comprises about 6.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Spyglass Capital Management LLC’s holdings in Exact Sciences were worth $116,283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its stake in Exact Sciences by 31.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock valued at $213,889,000 after acquiring an additional 939,888 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Exact Sciences by 26.5% during the 3rd quarter. William Blair Investment Management LLC now owns 2,555,051 shares of the medical research company’s stock worth $139,787,000 after purchasing an additional 534,881 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of Exact Sciences by 12.6% in the second quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock valued at $134,435,000 after purchasing an additional 282,825 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exact Sciences by 12.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,188,864 shares of the medical research company’s stock valued at $119,732,000 after purchasing an additional 239,313 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of Exact Sciences by 6,072,588.9% in the third quarter. ARK Investment Management LLC now owns 2,186,168 shares of the medical research company’s stock valued at $119,605,000 after purchasing an additional 2,186,132 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Trading Up 0.3%

NASDAQ EXAS opened at $103.57 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.43 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $102.83 and a two-hundred day moving average of $83.60. The stock has a market capitalization of $19.77 billion, a PE ratio of -94.15, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $103.75.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same period in the previous year, the company earned ($0.06) EPS. The company’s revenue was up 23.1% compared to the same quarter last year. As a group, research analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EXAS shares. Barclays restated an “equal weight” rating and issued a $105.00 target price (up from $77.00) on shares of Exact Sciences in a report on Thursday, November 20th. Wolfe Research lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. BTIG Research downgraded shares of Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. TD Cowen lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Monday, November 24th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $92.13.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.