Kevin T. Conroy Acquires 19,500 Shares of Exact Sciences Co. (NASDAQ:EXAS) Stock

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $50.93 on Friday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company’s 50-day moving average is $66.02 and its 200 day moving average is $56.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The stock has a market capitalization of $9.43 billion, a P/E ratio of -43.53 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EXAS shares. The Goldman Sachs Group cut their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. BTIG Research cut their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group lowered their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group increased their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler decreased their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.47.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently bought and sold shares of EXAS. Huntington National Bank boosted its position in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences during the second quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences in the third quarter worth about $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences in the third quarter worth approximately $35,000. Finally, Vestor Capital LLC purchased a new stake in shares of Exact Sciences during the third quarter valued at approximately $46,000. Institutional investors own 88.82% of the company’s stock.

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.