Exact Sciences Corporation $EXAS Stock Position Lifted by ARK Investment Management LLC

ARK Investment Management LLC lifted its stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 6,072,588.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,186,168 shares of the medical research company’s stock after purchasing an additional 2,186,132 shares during the quarter. ARK Investment Management LLC owned about 1.15% of Exact Sciences worth $119,605,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EXAS. Great Lakes Advisors LLC increased its stake in shares of Exact Sciences by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock valued at $215,000 after acquiring an additional 178 shares during the period. Capital Asset Advisory Services LLC boosted its stake in Exact Sciences by 4.8% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 3,941 shares of the medical research company’s stock valued at $216,000 after purchasing an additional 182 shares in the last quarter. Assetmark Inc. increased its position in shares of Exact Sciences by 7.2% during the 3rd quarter. Assetmark Inc. now owns 3,588 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 242 shares during the period. Westside Investment Management Inc. raised its stake in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after buying an additional 271 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in shares of Exact Sciences by 6.8% in the 2nd quarter. Crestwood Advisors Group LLC now owns 5,149 shares of the medical research company’s stock worth $274,000 after buying an additional 328 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $103.50 on Thursday. The stock has a market capitalization of $19.76 billion, a P/E ratio of -94.09, a P/E/G ratio of 2.35 and a beta of 1.41. The business has a 50-day moving average of $102.58 and a two-hundred day moving average of $81.06. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $103.67. 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 (NASDAQ:EXAS) last issued its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate 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 company earned ($0.06) earnings per share. The business’s revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target on the stock. in a research report on Monday, November 24th. Canaccord Genuity Group downgraded Exact Sciences from a “buy” rating to a “hold” rating and increased their price objective for the company from $85.00 to $105.00 in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd. Finally, Robert W. Baird set a $105.00 target price on Exact Sciences in a research report on Thursday, November 20th. Twenty-one analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $92.13.

Exact Sciences Profile

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.