Spyglass Capital Management LLC Has $95.17 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Spyglass Capital Management LLC trimmed its stake in Exact Sciences Co. (NASDAQ:EXAS) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,397,093 shares of the medical research company’s stock after selling 21,498 shares during the period. Exact Sciences makes up about 6.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 4th biggest position. Spyglass Capital Management LLC owned about 0.75% of Exact Sciences worth $95,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. WCM Investment Management LLC grew its position in Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after acquiring an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. grew its position in Exact Sciences by 67.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after acquiring an additional 11,800 shares during the last quarter. Profund Advisors LLC grew its position in Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after acquiring an additional 55,459 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after acquiring an additional 125,192 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Exact Sciences in the 2nd quarter valued at $163,896,000. Institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several research reports. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Robert W. Baird decreased their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price objective on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Cowen upped their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

Insider Activity

In related news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Exact Sciences Price Performance

Shares of EXAS stock opened at $61.69 on Friday. The stock’s 50-day simple moving average is $64.20 and its 200-day simple moving average is $55.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

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

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.