Kevin T. Conroy Sells 600,000 Shares of Exact Sciences Corp. (EXAS) Stock
Exact Sciences Corp. (NASDAQ:EXAS) insider Kevin T. Conroy sold 600,000 shares of the stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $17.46, for a total value of $10,476,000.00. Following the sale, the insider now owns 1,340,057 shares in the company, valued at $23,397,395.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Exact Sciences Corp. (NASDAQ:EXAS) opened at 14.62 on Friday. Exact Sciences Corp. has a 12-month low of $4.67 and a 12-month high of $22.80. The company’s market capitalization is $1.58 billion. The firm’s 50-day moving average price is $17.76 and its 200-day moving average price is $14.60.
Exact Sciences Corp. (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.06. Exact Sciences Corp. had a negative net margin of 216.45% and a negative return on equity of 55.44%. The business had revenue of $28.10 million for the quarter, compared to analyst estimates of $25.24 million. During the same period in the previous year, the company earned ($0.45) earnings per share. The business’s revenue for the quarter was up 122.6% on a year-over-year basis. On average, analysts expect that Exact Sciences Corp. will post ($1.71) EPS for the current fiscal year.
Several analysts have commented on the company. Benchmark Co. increased their target price on Exact Sciences Corp. from $14.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, October 26th. Robert W. Baird reiterated an “outperform” rating and set a $18.00 target price on shares of Exact Sciences Corp. in a research note on Sunday, July 31st. Lake Street Capital cut their target price on Exact Sciences Corp. from $15.00 to $8.00 and set a “hold” rating on the stock in a research note on Tuesday, November 1st. BTIG Research reiterated a “buy” rating and set a $20.00 target price on shares of Exact Sciences Corp. in a research note on Sunday, July 31st. Finally, Canaccord Genuity set a $24.00 target price on Exact Sciences Corp. and gave the company a “buy” rating in a research note on Wednesday, November 9th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Exact Sciences Corp. presently has an average rating of “Hold” and an average price target of $19.33.
A number of institutional investors have recently added to or reduced their stakes in EXAS. Quantbot Technologies LP purchased a new position in Exact Sciences Corp. during the third quarter valued at about $122,000. BNP Paribas Arbitrage SA raised its stake in shares of Exact Sciences Corp. by 127.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,892 shares of the company’s stock worth $165,000 after buying an additional 4,982 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Exact Sciences Corp. by 77.9% in the second quarter. PNC Financial Services Group Inc. now owns 9,090 shares of the company’s stock worth $111,000 after buying an additional 3,981 shares during the period. BlackRock Inc. raised its stake in shares of Exact Sciences Corp. by 48.0% in the second quarter. BlackRock Inc. now owns 9,547 shares of the company’s stock worth $116,000 after buying an additional 3,097 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Exact Sciences Corp. during the third quarter worth $184,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Exact Sciences Corp. Company Profile
Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline.
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