Exact Sciences Co. (NASDAQ:EXAS) EVP Sells $65,030.00 in Stock

Exact Sciences Co. (NASDAQ:EXAS) EVP Brian Baranick sold 929 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now owns 13,687 shares of the company’s stock, valued at approximately $958,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Exact Sciences Stock Performance

NASDAQ:EXAS traded up $1.62 during trading hours on Thursday, reaching $70.83. The company had a trading volume of 2,583,414 shares, compared to its average volume of 2,664,718. The firm has a market cap of $13.07 billion, a PE ratio of -54.16 and a beta of 1.26. Exact Sciences Co. has a 1-year low of $40.62 and a 1-year high of $79.62. The business’s 50 day moving average price is $56.33 and its 200-day moving average price is $55.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same period in the prior year, the firm posted ($0.45) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EXAS shares. Piper Sandler upped their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Scotiabank began coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price for the company. BTIG Research reduced their price target on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Stifel Nicolaus lowered their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group decreased their price target on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXAS. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after acquiring an additional 12,349 shares during the last quarter. Thompson Investment Management Inc. boosted its stake in Exact Sciences by 13.1% during the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock worth $11,090,000 after buying an additional 18,595 shares during the last quarter. Vanguard Group Inc. grew its holdings in Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after buying an additional 115,058 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Exact Sciences by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 1,020 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.