Shares of EXACT Sciences Co. (NASDAQ:EXAS) were up 0% during mid-day trading on Thursday . The company traded as high as $46.16 and last traded at $45.64. Approximately 3,836,134 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 2,935,958 shares. The stock had previously closed at $45.64.
A number of analysts have issued reports on EXAS shares. Benchmark set a $65.00 price objective on shares of EXACT Sciences and gave the company a “buy” rating in a report on Wednesday, January 17th. Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, January 16th. William Blair reissued a “buy” rating on shares of EXACT Sciences in a report on Wednesday, January 10th. Bank of America set a $67.00 price objective on shares of EXACT Sciences and gave the company a “buy” rating in a report on Monday, January 8th. Finally, BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $52.84.
The company has a current ratio of 7.15, a quick ratio of 6.77 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4,977.95, a price-to-earnings ratio of -46.10 and a beta of 0.87.
In related news, insider Kevin T. Conroy sold 125,402 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $52.79, for a total transaction of $6,619,971.58. Following the completion of the transaction, the insider now directly owns 955,454 shares in the company, valued at approximately $50,438,416.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP D Scott Coward sold 4,420 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $42.34, for a total transaction of $187,142.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,443 shares of company stock valued at $22,211,962. 4.00% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new position in EXACT Sciences during the 4th quarter worth approximately $606,000. Probabilities Fund Management LLC acquired a new position in EXACT Sciences during the 4th quarter worth approximately $210,000. Salem Investment Counselors Inc. increased its position in EXACT Sciences by 548.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 6,480 shares of the medical research company’s stock worth $340,000 after purchasing an additional 5,480 shares in the last quarter. Doheny Asset Management CA acquired a new position in EXACT Sciences during the 4th quarter worth approximately $2,345,000. Finally, MetLife Investment Advisors LLC acquired a new position in EXACT Sciences during the 4th quarter worth approximately $2,855,000. Institutional investors and hedge funds own 82.02% of the company’s stock.
EXACT Sciences Company Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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