Insider Selling: Exact Sciences Co. (NASDAQ:EXAS) CEO Sells 6,263 Shares of Stock

Exact Sciences Co. (NASDAQ:EXASGet Free Report) CEO Kevin T. Conroy sold 6,263 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total transaction of $356,302.07. Following the completion of the sale, the chief executive officer now directly owns 1,289,624 shares in the company, valued at $73,366,709.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Exact Sciences Price Performance

Shares of Exact Sciences stock traded down $0.59 on Wednesday, hitting $56.31. 1,628,300 shares of the company were exchanged, compared to its average volume of 1,976,769. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $65.93 and a 200 day moving average price of $68.45. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of -49.39 and a beta of 1.27. Exact Sciences Co. has a 1-year low of $56.05 and a 1-year high of $100.77.

Exact Sciences (NASDAQ:EXASGet Free Report) last issued its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.26. The company had revenue of $646.89 million during the quarter, compared to analysts’ expectations of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. During the same period in the prior year, the business earned ($0.72) EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that Exact Sciences Co. will post -0.95 earnings per share for the current fiscal year.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $120,308,000. Marshall Wace LLP purchased a new position in shares of Exact Sciences in the 2nd quarter valued at $91,558,000. Artisan Partners Limited Partnership grew its stake in Exact Sciences by 31.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,542,744 shares of the medical research company’s stock worth $332,664,000 after buying an additional 855,418 shares during the last quarter. Capital World Investors increased its holdings in shares of Exact Sciences by 17.2% in the 1st quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock valued at $383,652,000 after acquiring an additional 804,159 shares during the period. Finally, Vanguard Group Inc. increased its stake in Exact Sciences by 4.4% in the third quarter. Vanguard Group Inc. now owns 16,676,611 shares of the medical research company’s stock valued at $541,823,000 after purchasing an additional 698,740 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EXAS. Wolfe Research started coverage on Exact Sciences in a research note on Wednesday, December 13th. They issued an “outperform” rating and a $95.00 target price on the stock. The Goldman Sachs Group cut their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Canaccord Genuity Group dropped their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Guggenheim started coverage on shares of Exact Sciences in a research note on Thursday, December 14th. They set a “buy” rating and a $90.00 target price on the stock. Finally, TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.31.

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About Exact Sciences

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Exact Sciences (NASDAQ:EXAS)

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