Exact Sciences (NASDAQ:EXAS) Trading Up 7.6%

Exact Sciences Co. (NASDAQ:EXAS) was up 7.6% during trading on Friday . The company traded as high as $66.06 and last traded at $65.84. Approximately 1,116,388 shares changed hands during trading, a decline of 40% from the average daily volume of 1,860,572 shares. The stock had previously closed at $61.17.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of research reports. Benchmark lowered Exact Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Bank of America raised their target price on Exact Sciences from $105.00 to $110.00 in a research note on Wednesday, August 2nd. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, November 2nd. StockNews.com initiated coverage on shares of Exact Sciences in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Sanford C. Bernstein assumed coverage on shares of Exact Sciences in a report on Thursday, September 28th. They issued an “outperform” rating and a $83.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Exact Sciences Stock Up 8.2 %

The business has a fifty day moving average price of $66.69 and a two-hundred day moving average price of $79.55. The firm has a market cap of $11.97 billion, a PE ratio of -41.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.41 and a quick ratio of 2.13.

Insider Activity

In related news, insider Everett Cunningham sold 13,007 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $66.49, for a total transaction of $864,835.43. Following the completion of the sale, the insider now directly owns 37,909 shares in the company, valued at $2,520,569.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Exact Sciences news, CFO Jeffrey Thomas Elliott sold 30,210 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $82.92, for a total value of $2,505,013.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Everett Cunningham sold 13,007 shares of Exact Sciences stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $66.49, for a total value of $864,835.43. Following the sale, the insider now owns 37,909 shares of the company’s stock, valued at $2,520,569.41. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC increased its position in Exact Sciences by 6.0% during the third quarter. Integrated Advisors Network LLC now owns 4,332 shares of the medical research company’s stock worth $296,000 after buying an additional 244 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Exact Sciences by 123.6% during the 3rd quarter. Belpointe Asset Management LLC now owns 5,593 shares of the medical research company’s stock worth $382,000 after acquiring an additional 3,092 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Exact Sciences by 309.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 26,006 shares of the medical research company’s stock valued at $1,774,000 after acquiring an additional 19,654 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Exact Sciences in the 3rd quarter valued at approximately $328,000. Finally, Royal London Asset Management Ltd. lifted its holdings in Exact Sciences by 6.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 68,378 shares of the medical research company’s stock worth $4,661,000 after purchasing an additional 3,983 shares during the last quarter. Institutional investors own 89.13% of the company’s stock.

About Exact Sciences

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.