Insider Buying: Exact Sciences Co. (NASDAQ:EXAS) CEO Buys 19,500 Shares of Stock

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $50.93 on Friday. The firm has a market cap of $9.43 billion, a PE ratio of -43.53 and a beta of 1.27. The stock has a 50 day moving average of $66.02 and a 200 day moving average of $56.27. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results 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). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

EXAS has been the topic of several research analyst reports. Citigroup lowered their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird dropped their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Piper Sandler reduced their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Finally, TD Cowen lowered their target price on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $74.47.

Institutional Trading of Exact Sciences

Several hedge funds have recently made changes to their positions in the business. Erste Asset Management GmbH bought a new stake in Exact Sciences during the third quarter worth approximately $26,546,000. Bellevue Group AG boosted its holdings in shares of Exact Sciences by 25.1% in the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after purchasing an additional 290,585 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Exact Sciences by 215.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,815 shares of the medical research company’s stock valued at $7,481,000 after purchasing an additional 75,028 shares during the last quarter. PDT Partners LLC purchased a new stake in Exact Sciences during the 3rd quarter valued at $3,052,000. Finally, Fred Alger Management LLC bought a new stake in Exact Sciences in the third quarter worth $2,080,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

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.