Exact Sciences Co. (NASDAQ:EXAS) Short Interest Down 5.3% in December

by · The Markets Daily

Exact Sciences Co. (NASDAQ:EXAS – Get Free Report) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 11,200,000 shares, a decline of 5.3% from the November 30th total of 11,830,000 shares. Based on an average daily trading volume, of 2,370,000 shares, the short-interest ratio is currently 4.7 days.

Insider Activity at Exact Sciences

In related news, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Institutional Trading of Exact Sciences

Large investors have recently added to or reduced their stakes in the company. American Trust acquired a new stake in Exact Sciences in the 3rd quarter valued at about $229,000. Synovus Financial Corp acquired a new stake in shares of Exact Sciences in the third quarter valued at approximately $490,000. Tidal Investments LLC boosted its stake in shares of Exact Sciences by 172.2% during the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company’s stock worth $2,335,000 after acquiring an additional 21,683 shares during the period. Geode Capital Management LLC boosted its position in Exact Sciences by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after purchasing an additional 7,873 shares during the period. Finally, M&T Bank Corp raised its position in shares of Exact Sciences by 43.5% in the third quarter. M&T Bank Corp now owns 9,256 shares of the medical research company’s stock valued at $630,000 after purchasing an additional 2,806 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Down 0.0 %

EXAS stock traded down $0.01 during midday trading on Wednesday, hitting $56.19. 798,765 shares of the company’s stock were exchanged, compared to its average volume of 2,575,772. 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 market cap of $10.40 billion, a PE ratio of -48.03 and a beta of 1.24. The stock’s fifty day moving average price is $59.88 and its 200-day moving average price is $58.08. Exact Sciences has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXAS – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts predict that Exact Sciences will post -1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. BTIG Research increased their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. TD Cowen increased their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum lowered their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup decreased their price objective on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Robert W. Baird cut their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $72.94.

Get Our Latest Research Report on Exact Sciences

About Exact Sciences

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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.

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