Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy Buys 19,500 Shares

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Exact Sciences Stock Up 0.9 %

Shares of NASDAQ:EXAS traded up $0.45 during midday trading on Wednesday, hitting $50.61. The stock had a trading volume of 5,380,924 shares, compared to its average volume of 2,637,688. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The business’s 50-day simple moving average is $66.35 and its 200-day simple moving average is $56.34. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts predict that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXAS. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Sanford C. Bernstein increased their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen dropped their price objective 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. Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $74.47.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors have recently bought and sold shares of EXAS. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Exact Sciences by 16.1% during 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 acquiring an additional 12,349 shares during the last quarter. WCM Investment Management LLC boosted its position in Exact Sciences by 1,153.2% during the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings 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 valued at $14,361,000 after purchasing an additional 10,356 shares during the last quarter. Profund Advisors LLC raised its position in shares of Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Exact Sciences in the second quarter valued at about $163,896,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.