Insider Selling: Exact Sciences Co. (NASDAQ:EXAS) CEO Sells 1,155 Shares of Stock

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the sale, the chief executive officer now directly owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Exact Sciences Stock Performance

EXAS traded up $0.53 during trading hours on Thursday, hitting $60.54. The company’s stock had a trading volume of 1,587,025 shares, compared to its average volume of 2,281,227. Exact Sciences Co. has a fifty-two week low of $56.05 and a fifty-two week high of $100.77. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $11.13 billion, a PE ratio of -52.64 and a beta of 1.26. The company has a 50-day simple moving average of $63.26 and a 200 day simple moving average of $64.81.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The firm had revenue of $646.89 million for the quarter, compared to analysts’ expectations of $638.83 million. During the same period last year, the firm earned ($0.72) EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts expect that Exact Sciences Co. will post -0.86 EPS for the current year.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently modified their holdings of EXAS. Norges Bank acquired a new position in shares of Exact Sciences during the 4th quarter valued at $120,308,000. Jennison Associates LLC increased its position in shares of Exact Sciences by 94.0% during the 4th quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock valued at $100,681,000 after purchasing an additional 659,235 shares during the period. Capital World Investors increased its position in shares of Exact Sciences by 7.8% during the 4th quarter. Capital World Investors now owns 7,468,145 shares of the medical research company’s stock valued at $552,493,000 after purchasing an additional 539,498 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 period. Finally, Qube Research & Technologies Ltd increased its position in shares of Exact Sciences by 328.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company’s stock valued at $36,852,000 after purchasing an additional 414,059 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EXAS. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Canaccord Genuity Group reduced their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Citigroup reissued a “buy” rating and issued a $100.00 price target on shares of Exact Sciences in a report on Wednesday, April 3rd. Finally, TheStreet downgraded Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $97.44.

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.