Insider Selling: Exact Sciences Co. (NASDAQ:EXAS) Director Sells 3,207 Shares of Stock

Exact Sciences Co. (NASDAQ:EXAS) Director Katherine S. Zanotti sold 3,207 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the sale, the director now directly owns 72,759 shares of the company’s stock, valued at $3,870,778.80. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Exact Sciences Stock Down 0.4%

Shares of EXAS stock opened at $53.30 on Tuesday. The firm has a fifty day moving average of $51.25 and a 200-day moving average of $51.98. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of -9.57 and a beta of 0.98.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. During the same quarter in the prior year, the firm earned ($0.60) earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Exact Sciences by 3.6% during the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock worth $763,535,000 after acquiring an additional 617,384 shares in the last quarter. Capital World Investors increased its position in shares of Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock worth $985,439,000 after acquiring an additional 1,696,321 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Exact Sciences by 11.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock worth $277,225,000 after acquiring an additional 643,631 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Exact Sciences by 25.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock worth $239,922,000 after acquiring an additional 876,985 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Exact Sciences by 12.4% during the first quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock worth $142,062,000 after purchasing an additional 362,314 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on EXAS shares. Robert W. Baird boosted their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Scotiabank boosted their price objective on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Evercore ISI boosted their target price on Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada increased their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.90.

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.