Insider Selling: Exact Sciences Co. (NASDAQ:EXAS) EVP Sells 929 Shares of Stock

Exact Sciences Co. (NASDAQ:EXAS) EVP Brian Baranick sold 929 shares of the firm’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 directly owns 13,687 shares of the company’s stock, valued at approximately $958,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Exact Sciences Stock Up 2.3 %

Shares of NASDAQ:EXAS traded up $1.62 during trading on Thursday, hitting $70.83. 2,583,414 shares of the company were exchanged, compared to its average volume of 2,664,718. The firm’s 50 day moving average price is $56.33 and its 200-day moving average price is $55.68. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The stock has a market capitalization of $13.07 billion, a P/E ratio of -54.16 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. Exact Sciences’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on EXAS shares. BTIG Research decreased their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Piper Sandler increased their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Evercore ISI cut their target price on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company started coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Exact Sciences in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.14.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the second quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. increased its stake in Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the period. Able Wealth Management LLC purchased a new stake in shares of Exact Sciences in the fourth quarter valued at about $45,000. EverSource Wealth Advisors LLC boosted its stake in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Exact Sciences during the first quarter worth about $55,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.