Exact Sciences Corporation (NASDAQ:EXAS) Director Sells $62,399.70 in Stock

Exact Sciences Corporation (NASDAQ:EXAS) Director James Edward Doyle sold 1,485 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total value of $62,399.70. Following the sale, the director directly owned 59,962 shares in the company, valued at $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Exact Sciences Trading Up 1.4%

Shares of NASDAQ EXAS opened at $45.60 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $50.41 and a two-hundred day simple moving average of $49.63. The firm has a market cap of $8.63 billion, a PE ratio of -8.40, a price-to-earnings-growth ratio of 4.66 and a beta of 0.93. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. The business had revenue of $811.09 million during the quarter, compared to analyst estimates of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%. Exact Sciences’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. Analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EXAS. Bank Pictet & Cie Europe AG increased its holdings in shares of Exact Sciences by 1.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company’s stock valued at $7,250,000 after acquiring an additional 1,547 shares during the period. Cerity Partners LLC increased its holdings in shares of Exact Sciences by 65.9% in the 4th quarter. Cerity Partners LLC now owns 27,090 shares of the medical research company’s stock valued at $1,541,000 after acquiring an additional 10,761 shares during the period. Invesco Ltd. increased its holdings in shares of Exact Sciences by 57.2% in the 4th quarter. Invesco Ltd. now owns 379,683 shares of the medical research company’s stock valued at $21,334,000 after acquiring an additional 138,089 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Exact Sciences by 40.6% in the 4th quarter. Sterling Capital Management LLC now owns 7,759 shares of the medical research company’s stock valued at $436,000 after acquiring an additional 2,242 shares during the period. Finally, Advisors Capital Management LLC purchased a new position in shares of Exact Sciences in the 4th quarter valued at $515,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BTIG Research decreased their price objective on Exact Sciences from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Cowen reiterated a “buy” rating on shares of Exact Sciences in a research report on Thursday, August 7th. UBS Group cut their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Barclays cut their price objective on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $67.43.

Exact Sciences Company Profile

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.