Investors Buy EXACT Sciences (EXAS) on Weakness After Insider Selling

Traders purchased shares of EXACT Sciences Co. (NASDAQ:EXAS) on weakness during trading on Wednesday after an insider sold shares in the company. $197.23 million flowed into the stock on the tick-up and $180.84 million flowed out of the stock on the tick-down, for a money net flow of $16.39 million into the stock. Of all stocks tracked, EXACT Sciences had the 23rd highest net in-flow for the day. EXACT Sciences traded down ($5.27) for the day and closed at $47.68Specifically, insider Kevin T. Conroy sold 125,402 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $52.79, for a total value of $6,619,971.58. Following the transaction, the insider now directly owns 955,454 shares in the company, valued at approximately $50,438,416.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin T. Conroy sold 134,057 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $59.50, for a total transaction of $7,976,391.50. The disclosure for this sale can be found here. Insiders sold a total of 735,835 shares of company stock worth $40,961,278 over the last quarter. 4.00% of the stock is currently owned by company insiders.

EXAS has been the topic of several research analyst reports. Bank of America raised their price target on shares of EXACT Sciences from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Leerink Swann restated an “outperform” rating and issued a $67.00 price target (up from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. Robert W. Baird lowered shares of EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Monday, November 13th. Canaccord Genuity restated a “buy” rating and issued a $60.00 price target (up from $45.00) on shares of EXACT Sciences in a research report on Tuesday, October 3rd. Finally, Jefferies Group raised their price target on shares of EXACT Sciences to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $51.64.

The firm has a market capitalization of $5,710.00, a price-to-earnings ratio of -41.46 and a beta of 0.68. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The company had revenue of $72.60 million during the quarter, compared to the consensus estimate of $65.03 million. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm’s revenue for the quarter was up 158.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.36) EPS. equities research analysts predict that EXACT Sciences Co. will post -1.09 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in EXAS. Schwab Charles Investment Management Inc. lifted its holdings in EXACT Sciences by 5.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 765,522 shares of the medical research company’s stock valued at $40,221,000 after purchasing an additional 41,784 shares during the last quarter. Crow Point Partners LLC bought a new position in EXACT Sciences during the 4th quarter valued at about $145,000. Public Employees Retirement System of Ohio lifted its holdings in EXACT Sciences by 69.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 122,201 shares of the medical research company’s stock valued at $5,758,000 after purchasing an additional 50,185 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in EXACT Sciences during the 3rd quarter valued at about $514,000. Finally, California Public Employees Retirement System lifted its holdings in EXACT Sciences by 2.8% during the 3rd quarter. California Public Employees Retirement System now owns 190,338 shares of the medical research company’s stock valued at $8,969,000 after purchasing an additional 5,238 shares during the last quarter. 82.39% of the stock is 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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