Tower Research Capital LLC TRC Grows Position in Exact Sciences Co. (NASDAQ:EXAS)

Tower Research Capital LLC TRC raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1,063.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,849 shares of the medical research company’s stock after acquiring an additional 11,745 shares during the period. Tower Research Capital LLC TRC’s holdings in Exact Sciences were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXAS. Thompson Investment Management Inc. raised its stake in Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after purchasing an additional 36,505 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Exact Sciences by 35.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company’s stock valued at $5,385,000 after buying an additional 24,992 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Exact Sciences by 32.2% in the 4th quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock valued at $534,000 after acquiring an additional 2,315 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Exact Sciences in the fourth quarter worth about $478,000. Finally, Sanctuary Advisors LLC grew its position in Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after acquiring an additional 269 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $45.46 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock’s fifty day moving average price is $45.34 and its 200-day moving average price is $54.12. The firm has a market cap of $8.44 billion, a P/E ratio of -8.16 and a beta of 1.14. Exact Sciences Co. has a 12 month low of $39.97 and a 12 month high of $72.83.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Mizuho started coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price objective for the company. Benchmark restated a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Scotiabank boosted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Royal Bank of Canada began coverage on shares of Exact Sciences in a report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 target price for the company. Finally, Barclays dropped their price target on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

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.