Exact Sciences Sees Unusually Large Options Volume (NASDAQ:EXAS)

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) saw unusually large options trading activity on Tuesday. Stock investors bought 16,937 call options on the company. This represents an increase of approximately 291% compared to the average volume of 4,328 call options.

Insider Transactions at Exact Sciences

In other news, General Counsel James Herriott sold 421 shares of Exact Sciences stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $25,862.03. Following the transaction, the general counsel now owns 6,494 shares in the company, valued at $398,926.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel James Herriott sold 421 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $25,862.03. Following the transaction, the general counsel now owns 6,494 shares in the company, valued at $398,926.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sarah Condella sold 2,000 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the executive vice president now owns 71,787 shares in the company, valued at approximately $5,025,090. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,113 shares of company stock worth $4,165,273. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KB Financial Partners LLC purchased a new position in Exact Sciences in the second quarter valued at about $32,000. Wolff Wiese Magana LLC boosted its stake in Exact Sciences by 459.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company's stock valued at $31,000 after acquiring an additional 340 shares during the last quarter. BluePath Capital Management LLC purchased a new position in Exact Sciences in the third quarter valued at about $33,000. Coppell Advisory Solutions LLC purchased a new position in Exact Sciences in the second quarter valued at about $46,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Exact Sciences in the third quarter valued at about $34,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Stock Down 2.3 %

EXAS stock traded down $1.49 during trading on Tuesday, reaching $63.86. The stock had a trading volume of 3,472,045 shares, compared to its average volume of 2,324,577. Exact Sciences has a one year low of $56.05 and a one year high of $100.77. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $63.32 and its two-hundred day moving average is $65.13. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of -56.02 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.26. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The business had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. During the same period in the prior year, the firm posted ($0.72) EPS. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that Exact Sciences will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

EXAS has been the topic of several research reports. Canaccord Genuity Group dropped their price objective on shares of Exact Sciences from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. Citigroup reiterated a "buy" rating and set a $100.00 price objective on shares of Exact Sciences in a report on Wednesday, April 3rd. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 22nd. TheStreet lowered shares of Exact Sciences from a "c-" rating to a "d+" rating in a report on Monday, February 26th. Finally, Benchmark upgraded shares of Exact Sciences from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.44.

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.