Cinctive Capital Management LP Buys 103,841 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Cinctive Capital Management LP boosted its stake in Exact Sciences Co. (NASDAQ:EXAS) by 1,220.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 112,351 shares of the medical research company’s stock after buying an additional 103,841 shares during the period. Cinctive Capital Management LP owned approximately 0.06% of Exact Sciences worth $6,313,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EXAS. Geode Capital Management LLC increased its stake in shares of Exact Sciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock worth $175,165,000 after purchasing an additional 16,828 shares during the period. Charles Schwab Investment Management Inc. increased its position in Exact Sciences by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company’s stock worth $74,785,000 after buying an additional 38,849 shares during the period. Groupama Asset Managment lifted its holdings in shares of Exact Sciences by 0.3% during the fourth quarter. Groupama Asset Managment now owns 1,209,146 shares of the medical research company’s stock worth $67,942,000 after buying an additional 4,194 shares in the last quarter. Norges Bank bought a new stake in shares of Exact Sciences in the fourth quarter valued at about $50,625,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Exact Sciences by 63.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock valued at $30,863,000 after acquiring an additional 213,557 shares in the last quarter. 88.82% of the stock is owned by institutional investors.

Exact Sciences Stock Performance

Shares of EXAS opened at $43.45 on Wednesday. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company has a market cap of $8.07 billion, a PE ratio of -7.80 and a beta of 1.25. The stock has a 50-day moving average of $49.33 and a 200-day moving average of $57.43. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. On average, equities research analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXAS has been the subject of a number of recent research reports. Guggenheim set a $60.00 price objective on shares of Exact Sciences and gave the company a “buy” rating in a report on Friday. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Scotiabank raised their price objective on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Barclays cut their target price on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Benchmark reiterated a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.26.

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.