GAMMA Investing LLC Grows Holdings in Exact Sciences Co. (NASDAQ:EXAS)

GAMMA Investing LLC raised its position in Exact Sciences Co. (NASDAQ:EXAS) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,674 shares of the medical research company’s stock after buying an additional 828 shares during the period. GAMMA Investing LLC’s holdings in Exact Sciences were worth $206,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of EXAS. Huntington National Bank increased its position in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences during the 2nd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences during the 3rd quarter worth $34,000. Capital Performance Advisors LLP purchased a new position in shares of Exact Sciences in the 3rd quarter worth about $35,000. Finally, Vestor Capital LLC bought a new position in Exact Sciences during the third quarter valued at about $46,000. Institutional investors own 88.82% of the company’s stock.

Insider Activity

In other news, CEO Kevin T. Conroy acquired 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $57.10 on Wednesday. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a fifty day moving average of $58.61 and a 200 day moving average of $58.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The firm has a market capitalization of $10.57 billion, a price-to-earnings ratio of -48.80 and a beta of 1.24.

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

Wall Street Analyst Weigh In

Several analysts have commented on EXAS shares. Bank of America lowered their price objective on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Evercore ISI reduced their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Piper Sandler lowered their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. TD Cowen upped their price target on Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.94.

Exact Sciences Company Profile

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.