Lecap Asset Management Ltd. Makes New $593,000 Investment in Exact Sciences Co. (NASDAQ:EXAS)

Lecap Asset Management Ltd. acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,705 shares of the medical research company’s stock, valued at approximately $593,000.

Other institutional investors also recently modified their holdings of the company. Capital World Investors increased its stake in Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Exact Sciences during the 2nd quarter worth approximately $163,896,000. Champlain Investment Partners LLC boosted its holdings in Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after acquiring an additional 1,438,010 shares in the last quarter. Sculptor Capital LP acquired a new stake in Exact Sciences in the second quarter valued at approximately $32,819,000. Finally, Samlyn Capital LLC bought a new stake in shares of Exact Sciences during the second quarter valued at approximately $30,426,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Down 0.0 %

Shares of NASDAQ:EXAS opened at $70.26 on Friday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a market capitalization of $12.97 billion, a PE ratio of -53.23 and a beta of 1.27. The business has a fifty day moving average price of $65.56 and a two-hundred day moving average price of $56.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) earnings per share. Analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Wells Fargo & Company started coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price for the company. Evercore ISI raised their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus decreased their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.36% of the stock is currently owned by insiders.

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.