Holocene Advisors LP Acquires 580,209 Shares of Exact Sciences Corporation $EXAS

Holocene Advisors LP lifted its holdings in Exact Sciences Corporation (NASDAQ:EXAS) by 27.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,725,390 shares of the medical research company’s stock after acquiring an additional 580,209 shares during the quarter. Holocene Advisors LP owned 1.44% of Exact Sciences worth $149,106,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new position in shares of Exact Sciences during the 2nd quarter valued at $157,805,000. Ameriprise Financial Inc. lifted its stake in Exact Sciences by 105.8% in the third quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock worth $245,802,000 after purchasing an additional 2,310,139 shares during the last quarter. ARK Investment Management LLC boosted its position in Exact Sciences by 6,072,588.9% during 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 buying an additional 2,186,132 shares during the period. Amova Asset Management Americas Inc. boosted its position in Exact Sciences by 671.5% during the third quarter. Amova Asset Management Americas Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after buying an additional 1,119,830 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Exact Sciences by 643.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after buying an additional 1,113,459 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.3%

Shares of NASDAQ:EXAS opened at $103.57 on Monday. The stock’s 50-day moving average is $102.83 and its 200 day moving average is $84.12. The company has a market cap of $19.77 billion, a PE ratio of -94.15, a P/E/G ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $103.75.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share 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 prior year, the business earned ($0.06) earnings per share. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Sell-side analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Benchmark downgraded Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. TD Cowen lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Craig Hallum cut Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Friday, November 21st. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Barclays reissued an “equal weight” rating and set a $105.00 price objective (up from $77.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Exact Sciences has a consensus rating of “Reduce” and a consensus target price 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.