Exact Sciences Corporation $EXAS is Spyglass Capital Management LLC’s 2nd Largest Position

Spyglass Capital Management LLC grew its position in Exact Sciences Corporation (NASDAQ:EXAS) by 56.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,125,435 shares of the medical research company’s stock after acquiring an additional 766,772 shares during the quarter. Exact Sciences accounts for 6.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Spyglass Capital Management LLC owned approximately 1.12% of Exact Sciences worth $116,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXAS. Massachusetts Financial Services Co. MA grew its position in 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 valued at $213,889,000 after acquiring an additional 939,888 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Exact Sciences by 26.5% during the 3rd quarter. William Blair Investment Management LLC now owns 2,555,051 shares of the medical research company’s stock valued at $139,787,000 after buying an additional 534,881 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Exact Sciences by 12.6% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,529,820 shares of the medical research company’s stock valued at $134,435,000 after buying an additional 282,825 shares during the period. Dimensional Fund Advisors LP grew its stake in Exact Sciences by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,188,864 shares of the medical research company’s stock worth $119,732,000 after acquiring an additional 239,313 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Exact Sciences by 6,072,588.9% during the third quarter. ARK Investment Management LLC now owns 2,186,168 shares of the medical research company’s stock valued at $119,605,000 after acquiring an additional 2,186,132 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Guggenheim lowered Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Evercore set a $105.00 price objective on shares of Exact Sciences and gave the stock an “in-line” rating in a research note on Monday, January 5th. Citigroup cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. William Blair cut shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 20th. Finally, Wolfe Research downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Twenty-one analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Reduce” and a consensus price target of $92.13.

Exact Sciences Stock Up 0.3%

EXAS opened at $103.57 on Friday. The company has a fifty day moving average of $102.83 and a two-hundred day moving average of $83.60. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of -94.15, a PEG ratio of 2.35 and a beta of 1.41. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week 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.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) 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 period in the previous year, the firm earned ($0.06) earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Exact Sciences Company 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.