Exact Sciences (NASDAQ:EXAS) Hits New 52-Week Low at $53.63

Exact Sciences Co. (NASDAQ:EXAS) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $53.63 and last traded at $54.21, with a volume of 1641622 shares traded. The stock had previously closed at $59.48.

Analyst Ratings Changes

Several analysts recently commented on the stock. TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Canaccord Genuity Group decreased their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Citigroup reissued a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.07.

Exact Sciences Stock Down 10.8 %

The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average price is $63.64 and its two-hundred day moving average price is $64.66. The firm has a market cap of $9.76 billion, a P/E ratio of -48.29 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.26. The company had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned ($0.72) earnings per share. As a group, equities research analysts anticipate that Exact Sciences Co. will post -0.86 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In related news, General Counsel James Herriott sold 421 shares of Exact Sciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $25,862.03. Following the sale, the general counsel now directly owns 6,494 shares of the company’s stock, valued at $398,926.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total transaction of $106,896.31. Following the completion of the sale, the insider now owns 11,754 shares in the company, valued at approximately $668,685.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel James Herriott sold 421 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $25,862.03. Following the sale, the general counsel now owns 6,494 shares of the company’s stock, valued at approximately $398,926.42. The disclosure for this sale can be found here. Insiders have sold a total of 70,611 shares of company stock worth $4,255,377 over the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its holdings in shares of Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after buying an additional 340 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after buying an additional 179 shares during the period. Able Wealth Management LLC acquired a new position in shares of Exact Sciences in the 4th quarter valued at $45,000. Cullen Frost Bankers Inc. grew its holdings in shares of Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock valued at $48,000 after buying an additional 200 shares during the period. Finally, Valley National Advisers Inc. grew its holdings in shares of Exact Sciences by 29.5% in the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after buying an additional 176 shares during the period. 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.