Exact Sciences Co. (NASDAQ:EXAS) CEO Buys $1,001,325.00 in Stock

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Exact Sciences Price Performance

Exact Sciences stock opened at $50.73 on Thursday. The company’s 50 day moving average is $66.22 and its two-hundred day moving average is $56.30. The firm has a market cap of $9.39 billion, a PE ratio of -43.36 and a beta of 1.27. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. The company’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXAS. Sanford C. Bernstein raised their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group cut their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Benchmark cut their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen reduced their target price on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.47.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank raised its holdings in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences during the 3rd quarter worth $35,000. Finally, Vestor Capital LLC acquired a new position in shares of Exact Sciences during the third quarter worth $46,000. 88.82% of the stock is owned by institutional investors and hedge funds.

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.