Exact Sciences (NASDAQ:EXAS) Director Sells $120,000.00 in Stock

Key Points

• Exact Sciences Director James Edward Doyle sold 2,000 shares for $120,000 on October 9th, reducing his ownership by 3.34% to 57,962 shares valued at approximately $3.48 million.
• The stock price of Exact Sciences (NASDAQ:EXAS) decreased by 1.9% to $58.34, with a year-to-date trading range of $38.81 to $72.83.
• Analysts have upgraded Exact Sciences to a "strong-buy" rating, with a consensus target price of $69.19, reflecting positive sentiment among investment analysts.

Exact Sciences Corporation (NASDAQ:EXAS - Get Free Report) Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director owned 57,962 shares of the company's stock, valued at $3,477,720. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

James Edward Doyle also recently made the following trade(s):

• On Wednesday, August 13th, James Edward Doyle sold 1,485 shares of Exact Sciences stock. The shares were sold at an average price of $42.02, for a total value of $62,399.70.

Exact Sciences Stock Down 1.9%

Shares of NASDAQ EXAS traded down $1.12 during mid-day trading on Friday, reaching $58.34. 2,442,379 shares of the company were exchanged, compared to its average volume of 2,740,735. Exact Sciences Corporation has a 1 year low of $38.81 and a 1 year high of $72.83. The firm has a 50-day moving average of $50.47 and a 200 day moving average of $50.41. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of -10.74, a P/E/G ratio of 5.48 and a beta of 1.24. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $811.09 million during the quarter, compared to the consensus estimate of $774.43 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. On average, research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EXAS. AdvisorNet Financial Inc increased its holdings in shares of Exact Sciences by 23.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 16,558 shares of the medical research company's stock worth $906,000 after buying an additional 3,115 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in Exact Sciences in the 3rd quarter valued at about $274,000. Moody National Bank Trust Division raised its holdings in Exact Sciences by 9.5% in the 3rd quarter. Moody National Bank Trust Division now owns 12,813 shares of the medical research company's stock valued at $701,000 after buying an additional 1,113 shares during the period. Capital Asset Advisory Services LLC lifted its position in Exact Sciences by 4.8% in the third quarter. Capital Asset Advisory Services LLC now owns 3,941 shares of the medical research company's stock valued at $216,000 after buying an additional 182 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Exact Sciences by 27.3% during the second quarter. Corient Private Wealth LLC now owns 16,539 shares of the medical research company's stock worth $879,000 after buying an additional 3,550 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on EXAS. Zacks Research upgraded Exact Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday. Cowen reiterated a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Craig Hallum raised their price target on shares of Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Evercore ISI upped their price objective on shares of Exact Sciences from $64.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Wells Fargo & Company set a $68.00 target price on shares of Exact Sciences in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Exact Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $69.19.

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.

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