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 Exact Sciences stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now owns 13,687 shares of the company’s stock, valued at $958,090. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $70.09 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a 50 day moving average of $56.85 and a 200 day moving average of $55.78. The firm has a market cap of $12.93 billion, a PE ratio of -53.10 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $690.02 million. During the same period last year, the firm posted ($0.45) earnings per share. Exact Sciences’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts expect that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

EXAS has been the subject of a number of research analyst reports. Piper Sandler lifted their target price 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. Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. BTIG Research lowered their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. The Goldman Sachs Group cut 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. Finally, Evercore ISI lowered their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.14.

Institutional Trading of Exact Sciences

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Exact Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares in the last quarter. Capital World Investors boosted its holdings in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after purchasing an additional 5,557,168 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Exact Sciences by 12.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock valued at $330,711,000 after purchasing an additional 508,764 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Exact Sciences during the 2nd quarter valued at $163,896,000. Finally, Champlain Investment Partners LLC lifted its position in Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after buying an additional 1,438,010 shares during the last quarter. 88.82% of the stock is currently owned by 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.