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 company traded as low as $53.63 and last traded at $54.21, with a volume of 1641622 shares changing hands. The stock had previously closed at $59.48.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXAS. TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Citigroup reissued a “buy” rating and issued a $100.00 price target on shares of Exact Sciences in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group cut their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.07.

Exact Sciences Stock Down 10.8 %

The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $9.76 billion, a P/E ratio of -48.29 and a beta of 1.26. The firm has a 50-day moving average price of $63.64 and a two-hundred day moving average price of $64.66.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data 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. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company had revenue of $646.89 million during the quarter, compared to analysts’ expectations of $638.83 million. During the same period in the prior year, the business earned ($0.72) earnings per share. Exact Sciences’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Exact Sciences news, insider Jacob A. Orville sold 1,879 shares of Exact Sciences 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 sale, the insider now owns 11,754 shares in the company, valued at $668,685.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel James Herriott sold 784 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total value of $44,601.76. Following the sale, the general counsel now owns 8,097 shares in the company, valued at approximately $460,638.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacob A. Orville sold 1,879 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 70,611 shares of company stock valued at $4,255,377 over the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Trading of Exact Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Exact Sciences in the 4th quarter valued at about $120,308,000. Jennison Associates LLC increased its stake in shares of Exact Sciences by 94.0% in the 4th quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock valued at $100,681,000 after acquiring an additional 659,235 shares during the last quarter. Capital World Investors grew its position in shares of Exact Sciences by 7.8% in the 4th quarter. Capital World Investors now owns 7,468,145 shares of the medical research company’s stock valued at $552,493,000 after purchasing an additional 539,498 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Exact Sciences by 12.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock valued at $330,711,000 after purchasing an additional 508,764 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in Exact Sciences by 328.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 540,191 shares of the medical research company’s stock worth $36,852,000 after acquiring an additional 414,059 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

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.