Bridgefront Capital LLC Makes New Investment in Exact Sciences Corporation $EXAS

Bridgefront Capital LLC acquired a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,994 shares of the medical research company’s stock, valued at approximately $656,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in Exact Sciences in the 2nd quarter worth approximately $157,805,000. Ameriprise Financial Inc. increased its stake in Exact Sciences by 105.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock valued at $245,802,000 after purchasing an additional 2,310,139 shares in the last quarter. ARK Investment Management LLC increased its stake in Exact Sciences by 6,072,588.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,186,168 shares of the medical research company’s stock valued at $119,605,000 after purchasing an additional 2,186,132 shares in the last quarter. Holocene Advisors LP raised its holdings in shares of Exact Sciences by 189.5% in the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after buying an additional 1,404,086 shares during the last quarter. Finally, Amova Asset Management Americas Inc. raised its holdings in shares of Exact Sciences by 671.5% in the third quarter. Amova Asset Management Americas Inc. now owns 1,286,595 shares of the medical research company’s stock worth $70,390,000 after buying an additional 1,119,830 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Stock Up 0.3%

NASDAQ:EXAS opened at $103.57 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. The company’s fifty day moving average price is $102.83 and its 200-day moving average price is $84.12. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $103.75. The firm has a market capitalization of $19.77 billion, a P/E ratio of -94.15, a PEG ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (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%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. As a group, equities research analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

EXAS has been the topic of a number of research analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a report on Thursday, November 20th. Barclays restated an “equal weight” rating and issued a $105.00 target price (up from $77.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Craig Hallum downgraded Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Friday, November 21st. Wolfe Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Robert W. Baird set a $105.00 price objective on Exact Sciences in a research note on Thursday, November 20th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $92.13.

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.