Algert Global LLC Buys 110,255 Shares of Exact Sciences Corporation $EXAS

Algert Global LLC lifted its position in shares of Exact Sciences Corporation (NASDAQ:EXAS) by 110.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,175 shares of the medical research company’s stock after purchasing an additional 110,255 shares during the quarter. Algert Global LLC owned 0.11% of Exact Sciences worth $11,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Exact Sciences during the 2nd quarter worth approximately $157,805,000. Ameriprise Financial Inc. boosted its holdings in shares of 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 valued at $245,802,000 after buying an additional 2,310,139 shares during the period. ARK Investment Management LLC increased its position in shares of 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 worth $119,605,000 after acquiring an additional 2,186,132 shares in the last quarter. Holocene Advisors LP increased its position in shares of Exact Sciences by 189.5% during the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after acquiring an additional 1,404,086 shares in the last quarter. Finally, Amova Asset Management Americas Inc. lifted its holdings in shares of Exact Sciences by 671.5% in 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 purchasing an additional 1,119,830 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.3%

Shares of EXAS opened at $103.57 on Monday. The firm has a market cap of $19.77 billion, a P/E ratio of -94.15, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $103.75. The firm’s 50-day simple moving average is $102.83 and its 200 day simple moving average is $84.12.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share (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%.Exact Sciences’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. On average, analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXAS. Canaccord Genuity Group downgraded Exact Sciences from a “buy” rating to a “hold” rating and increased their price objective for the stock from $85.00 to $105.00 in a report on Tuesday, November 25th. Leerink Partners cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Evercore set a $105.00 price target on Exact Sciences and gave the stock an “in-line” rating in a research report on Monday, January 5th. Piper Sandler downgraded shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Monday, November 24th. Finally, Wolfe Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Twenty-one investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences 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.