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

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $49.33 on Friday. The company has a market capitalization of $9.13 billion, a P/E ratio of -42.16 and a beta of 1.27. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The stock has a 50 day moving average price of $65.83 and a two-hundred day moving average price of $56.20.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of 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 worth $6,160,000 after buying an additional 12,349 shares during the period. WCM Investment Management LLC increased its stake in Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Exact Sciences by 5.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after buying an additional 10,356 shares in the last quarter. Profund Advisors LLC increased its position in shares of Exact Sciences by 239.8% during the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after acquiring an additional 55,459 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Exact Sciences in the 2nd quarter worth approximately $163,896,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on EXAS. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. TD Cowen decreased their price target on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird dropped their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup lowered their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI cut their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

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.