563,292 Shares in Exact Sciences Corporation $EXAS Acquired by Fred Alger Management LLC

Fred Alger Management LLC purchased a new position in Exact Sciences Corporation (NASDAQ:EXAS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 563,292 shares of the medical research company’s stock, valued at approximately $30,818,000.

Several other institutional investors also recently modified their holdings of EXAS. Ameriprise Financial Inc. lifted its position in shares of Exact Sciences by 105.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock valued at $245,802,000 after acquiring an additional 2,310,139 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Exact Sciences by 31.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock worth $213,889,000 after acquiring an additional 939,888 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Exact Sciences by 26.5% in the 3rd quarter. William Blair Investment Management LLC now owns 2,555,051 shares of the medical research company’s stock worth $139,787,000 after acquiring an additional 534,881 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Exact Sciences by 12.6% during the second quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock worth $134,435,000 after purchasing an additional 282,825 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Exact Sciences by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,188,864 shares of the medical research company’s stock valued at $119,732,000 after purchasing an additional 239,313 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.3%

Exact Sciences stock opened at $103.57 on Monday. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $103.75. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43. The firm 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 firm’s 50 day moving average price is $102.83 and its two-hundred day moving average price is $84.12.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. During the same quarter last year, the business posted ($0.06) EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of recent analyst reports. Piper Sandler lowered Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Monday, November 24th. Citigroup lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. Jefferies Financial Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and raised their price objective for the stock from $90.00 to $105.00 in a research note on Monday, November 24th. Leerink Partners lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $105.00 price objective (up from $85.00) 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 given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average 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.