Exact Sciences (NASDAQ:EXAS) Shares Down 4.3% – Time to Sell?

Shares of Exact Sciences Co. (NASDAQ:EXAS) traded down 4.3% on Tuesday . The company traded as low as $55.92 and last traded at $56.01. 652,498 shares changed hands during trading, a decline of 65% from the average session volume of 1,890,406 shares. The stock had previously closed at $58.51.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXAS shares. BTIG Research boosted their price objective on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Jefferies Financial Group increased their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. TD Cowen raised their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler dropped their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Stifel Nicolaus decreased their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Trading Down 5.8 %

The firm has a market cap of $9.34 billion, a price-to-earnings ratio of -43.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a 50 day moving average price of $57.20 and a 200 day moving average price of $59.03.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts expect that Exact Sciences Co. will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Groupama Asset Managment acquired a new stake in Exact Sciences during the 3rd quarter worth approximately $821,000. Sculptor Capital LP acquired a new position in shares of Exact Sciences in the second quarter worth $32,819,000. Samlyn Capital LLC purchased a new stake in shares of Exact Sciences during the second quarter worth $30,426,000. Armistice Capital LLC raised its stake in shares of Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after acquiring an additional 669,438 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new position in Exact Sciences in the third quarter valued at $28,608,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.