Exact Sciences Co. (NASDAQ:EXAS) Short Interest Update

Exact Sciences Co. (NASDAQ:EXAS) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 14,210,000 shares, a growth of 50.4% from the June 15th total of 9,450,000 shares. Based on an average daily trading volume, of 3,010,000 shares, the short-interest ratio is currently 4.7 days.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy sold 1,155 shares of Exact Sciences stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the transaction, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at $69,544,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 1,498 shares of company stock valued at $90,105. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in Exact Sciences by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 37,243 shares of the medical research company’s stock valued at $1,574,000 after purchasing an additional 2,070 shares during the last quarter. Beech Hill Advisors Inc. boosted its holdings in Exact Sciences by 15.3% in the 2nd quarter. Beech Hill Advisors Inc. now owns 59,647 shares of the medical research company’s stock valued at $2,520,000 after purchasing an additional 7,936 shares during the last quarter. Register Financial Advisors LLC boosted its holdings in Exact Sciences by 16.2% in the 2nd quarter. Register Financial Advisors LLC now owns 3,235 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 450 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Exact Sciences by 14.5% in the 2nd quarter. Park Avenue Securities LLC now owns 32,527 shares of the medical research company’s stock valued at $1,374,000 after purchasing an additional 4,127 shares during the last quarter. Finally, Thompson Investment Management Inc. raised its stake in shares of Exact Sciences by 20.9% in the 2nd quarter. Thompson Investment Management Inc. now owns 194,071 shares of the medical research company’s stock valued at $8,200,000 after acquiring an additional 33,487 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Scotiabank assumed coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price on the stock. BTIG Research dropped their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on shares of Exact Sciences in a research report on Monday, June 3rd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.80.

Exact Sciences Price Performance

EXAS traded up $1.52 on Friday, reaching $46.36. 2,378,212 shares of the company’s stock were exchanged, compared to its average volume of 2,931,999. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.64 and a quick ratio of 1.45. The stock has a market cap of $8.55 billion, a PE ratio of -35.12 and a beta of 1.22. The stock’s fifty day moving average price is $47.11 and its 200-day moving average price is $58.55. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $100.77.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $637.52 million for the quarter, compared to analyst estimates of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. Sell-side analysts expect that Exact Sciences will post -1.15 EPS for the current year.

Exact Sciences Company Profile

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.