Exact Sciences (NASDAQ:EXAS) Sees Unusually-High Trading Volume – Here’s Why

Shares of Exact Sciences Corporation (NASDAQ:EXAS) saw unusually-high trading volume on Friday . Approximately 5,276,434 shares changed hands during trading, an increase of 69% from the previous session’s volume of 3,119,095 shares.The stock last traded at $100.9450 and had previously closed at $100.67.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EXAS shares. Evercore ISI raised their target price on shares of Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a research note on Wednesday, October 8th. William Blair cut Exact Sciences from an “outperform” rating to a “market perform” rating in a report on Thursday. Royal Bank Of Canada reduced their price target on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 7th. Finally, Benchmark increased their target price on Exact Sciences from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.38.

Exact Sciences Stock Up 0.1%

The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The firm has a market capitalization of $19.10 billion, a P/E ratio of -18.57, a PEG ratio of 5.56 and a beta of 1.34. The firm’s 50-day moving average is $61.91 and its 200 day moving average is $55.11.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same quarter last year, the firm earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 57,962 shares in the company, valued at approximately $3,477,720. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the sale, the executive vice president directly owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EXAS. Westside Investment Management Inc. lifted its holdings in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after purchasing an additional 271 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Exact Sciences by 951.8% during the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after buying an additional 533 shares in the last quarter. Country Trust Bank bought a new stake in Exact Sciences during the second quarter worth $32,000. Bessemer Group Inc. increased its position in shares of Exact Sciences by 1,980.6% during the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 614 shares during the last quarter. Finally, National Pension Service raised its position in Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after acquiring an additional 292 shares during the period. 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.