Insider Selling: Exact Sciences Corporation (NASDAQ:EXAS) Director Sells 1,485 Shares of Stock

Key Points

• Exact Sciences Corporation's director, James Edward Doyle, sold 1,485 shares at an average price of $42.02, reducing his ownership by 2.42% to a total of 59,962 shares.
• The company recently reported a quarterly earnings per share (EPS) of $0.22, exceeding analysts' expectations by $0.24 and showcasing a 16% year-over-year revenue increase.
• Equity analysts are optimistic about Exact Sciences, with ratings ranging from "hold" to "strong buy" and an average target price of $67.43.

Exact Sciences Corporation (NASDAQ:EXAS - Get Free Report) Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the transaction, the director directly owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Exact Sciences Trading Up 0.2%

NASDAQ EXAS traded up $0.08 during trading on Thursday, reaching $44.99. 4,089,820 shares of the stock traded hands, compared to its average volume of 2,789,402. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of -8.29, a price-to-earnings-growth ratio of 4.27 and a beta of 0.93. The stock's 50-day moving average price is $50.78 and its 200 day moving average price is $49.80. 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 Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $72.83.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EXAS shares. Wall Street Zen raised shares of Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Robert W. Baird boosted their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Cowen reissued a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. Evercore ISI dropped their price target on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Barclays dropped their price target on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $67.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Exact Sciences in the first quarter valued at approximately $34,000. Cerity Partners LLC boosted its holdings in shares of Exact Sciences by 24.0% in the first quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company's stock valued at $1,454,000 after buying an additional 6,508 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Exact Sciences in the first quarter valued at approximately $1,171,000. GAMMA Investing LLC boosted its holdings in shares of Exact Sciences by 15.5% in the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after buying an additional 569 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in shares of Exact Sciences by 110.0% in the first quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after buying an additional 4,609 shares during the period. 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.

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