Exact Sciences (NASDAQ:EXAS) Stock Price Down 4.7%

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report)'s share price dropped 4.7% during trading on Wednesday . The company traded as low as $70.04 and last traded at $70.24. Approximately 1,996,026 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 2,193,090 shares. The stock had previously closed at $73.74.

Analyst Ratings Changes

A number of analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 22nd. Guggenheim assumed coverage on Exact Sciences in a report on Thursday, December 14th. They set a "buy" rating and a $90.00 price target on the stock. Benchmark upgraded Exact Sciences from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Tuesday, January 2nd. Citigroup restated a "buy" rating and issued a $100.00 target price on shares of Exact Sciences in a research note on Wednesday. Finally, Wolfe Research began coverage on Exact Sciences in a research note on Wednesday, December 13th. They issued an "outperform" rating and a $95.00 target price on the stock. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.44.

Exact Sciences Stock Down 1.2 %

The company's fifty day simple moving average is $62.11 and its 200-day simple moving average is $65.07. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07. The firm has a market capitalization of $13.22 billion, a PE ratio of -61.80 and a beta of 1.25.

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

Insider Activity at Exact Sciences

In related news, EVP Sarah Condella sold 2,000 shares of the business's stock in a transaction on Thursday, March 28th. 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 directly owns 73,787 shares in the company, valued at $5,165,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Sarah Condella sold 2,000 shares of the company's stock in a transaction dated Thursday, March 28th. 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 73,787 shares in the company, valued at approximately $5,165,090. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jacob A. Orville sold 2,154 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.32, for a total transaction of $127,775.28. Following the sale, the insider now directly owns 14,324 shares of the company's stock, valued at approximately $849,699.68. The disclosure for this sale can be found here. Insiders sold 69,113 shares of company stock worth $4,165,273 over the last three months. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Exact Sciences

Several institutional investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in Exact Sciences in the fourth quarter valued at $30,000. Wolff Wiese Magana LLC increased 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 purchasing an additional 340 shares during the period. KB Financial Partners LLC acquired a new position in Exact Sciences in the second quarter valued at $32,000. BluePath Capital Management LLC acquired a new position in Exact Sciences in the third quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Exact Sciences in the third quarter valued at $34,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.