EXACT Sciences Co. (NASDAQ:EXAS)’s share price fell 0% during trading on Monday . The company traded as low as $48.63 and last traded at $49.90. 7,630,000 shares changed hands during trading, an increase of 412% from the average session volume of 1,490,000 shares. The stock had previously closed at $49.90.
A number of research firms have commented on EXAS. Leerink Swann restated an “outperform” rating and set a $50.00 price objective (up previously from $45.00) on shares of EXACT Sciences in a research note on Thursday, September 21st. BidaskClub upgraded EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Canaccord Genuity restated a “buy” rating and set a $60.00 price objective (up previously from $45.00) on shares of EXACT Sciences in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, September 26th. Finally, Robert W. Baird restated a “buy” rating and set a $49.00 price objective on shares of EXACT Sciences in a research note on Friday, October 6th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $79.71.
The company has a market capitalization of $5,980.00, a price-to-earnings ratio of -43.39 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34.
In related news, CEO Kevin T. Conroy sold 137,805 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $59.14, for a total transaction of $8,149,787.70. Following the sale, the chief executive officer now owns 967,867 shares of the company’s stock, valued at approximately $57,239,654.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total value of $2,453,540.00. Following the sale, the insider now directly owns 272,819 shares in the company, valued at approximately $14,623,098.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 610,433 shares of company stock worth $34,341,306. Company insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC acquired a new stake in shares of EXACT Sciences during the 3rd quarter valued at $2,312,000. Bank of Nova Scotia acquired a new stake in shares of EXACT Sciences during the 2nd quarter valued at $1,482,000. Federated Investors Inc. PA boosted its holdings in shares of EXACT Sciences by 53.3% during the 2nd quarter. Federated Investors Inc. PA now owns 34,553 shares of the medical research company’s stock valued at $1,222,000 after acquiring an additional 12,018 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of EXACT Sciences by 16.5% during the 2nd quarter. Stifel Financial Corp now owns 25,023 shares of the medical research company’s stock valued at $888,000 after acquiring an additional 3,548 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its holdings in shares of EXACT Sciences by 168.2% during the 3rd quarter. Sit Investment Associates Inc. now owns 29,900 shares of the medical research company’s stock valued at $1,409,000 after acquiring an additional 18,750 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.
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EXACT Sciences Company Profile
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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