Exact Sciences Corporation (NASDAQ:EXAS) CFO Jeffrey Thomas Elliott sold 5,846 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $39.41, for a total transaction of $230,390.86. Following the transaction, the chief financial officer now owns 19,861 shares of the company’s stock, valued at approximately $782,722.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Exact Sciences Corporation (EXAS) traded up 1.09% during mid-day trading on Friday, hitting $37.87. 1,039,106 shares of the stock traded hands. The firm’s 50-day moving average is $38.05 and its 200-day moving average is $29.56. Exact Sciences Corporation has a 12-month low of $13.05 and a 12-month high of $42.18. The company’s market cap is $4.51 billion.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.10. The business had revenue of $57.65 million during the quarter, compared to analyst estimates of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. Equities research analysts expect that Exact Sciences Corporation will post ($1.18) EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC purchased a new position in Exact Sciences Corporation during the first quarter worth $6,391,000. Nationwide Fund Advisors raised its position in Exact Sciences Corporation by 52.1% in the first quarter. Nationwide Fund Advisors now owns 149,167 shares of the medical research company’s stock worth $3,523,000 after buying an additional 51,085 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Exact Sciences Corporation during the fourth quarter valued at approximately $758,000. UBS Group AG raised its position in shares of Exact Sciences Corporation by 32.1% in the first quarter. UBS Group AG now owns 108,305 shares of the medical research company’s stock valued at $2,558,000 after buying an additional 26,309 shares during the period. Finally, Norges Bank bought a new position in shares of Exact Sciences Corporation during the fourth quarter valued at approximately $25,200,000. 85.44% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Vetr downgraded shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $38.66 price objective for the company. in a report on Thursday, August 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Bank of America Corporation reiterated a “buy” rating on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Finally, Roth Capital increased their price objective on shares of Exact Sciences Corporation from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $40.51.
About Exact Sciences Corporation
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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