GAMMA Investing LLC Purchases 828 Shares of Exact Sciences Co. (NASDAQ:EXAS)

GAMMA Investing LLC grew its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,674 shares of the medical research company’s stock after purchasing an additional 828 shares during the quarter. GAMMA Investing LLC’s holdings in Exact Sciences were worth $206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXAS. Acadian Asset Management LLC bought a new position in shares of Exact Sciences during the second quarter valued at $160,000. Quest Partners LLC raised its position in Exact Sciences by 907.7% during the 2nd quarter. Quest Partners LLC now owns 2,237 shares of the medical research company’s stock worth $95,000 after purchasing an additional 2,015 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in Exact Sciences by 3.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 72,611 shares of the medical research company’s stock worth $3,068,000 after buying an additional 2,303 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Exact Sciences by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,547 shares of the medical research company’s stock valued at $530,000 after buying an additional 600 shares during the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in shares of Exact Sciences in the second quarter valued at about $220,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Price Performance

Shares of EXAS opened at $57.10 on Wednesday. The stock has a market cap of $10.57 billion, a P/E ratio of -48.80 and a beta of 1.24. The business’s fifty day moving average is $58.61 and its 200 day moving average is $58.59. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EXAS. BTIG Research upped their target price on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Robert W. Baird reduced their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum lowered their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group cut their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $72.94.

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.