Exact Sciences Sees Unusually High Options Volume (NASDAQ:EXAS)

Exact Sciences Corporation (NASDAQ:EXAS) was the target of unusually large options trading activity on Wednesday. Stock investors bought 24,707 call options on the company. This represents an increase of 1,053% compared to the average daily volume of 2,142 call options.

Exact Sciences Trading Up 25.7%

Shares of NASDAQ:EXAS traded up $17.94 during trading on Wednesday, reaching $87.62. 15,325,008 shares of the stock were exchanged, compared to its average volume of 2,796,009. The firm’s 50-day moving average price is $60.39 and its 200 day moving average price is $54.57. The firm has a market cap of $16.60 billion, a price-to-earnings ratio of -16.06, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. Exact Sciences has a 12-month low of $38.81 and a 12-month high of $89.67. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly 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. The firm had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. Exact Sciences’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. Exact Sciences has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 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 SEC filing for this sale provides additional information. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC grew its position in Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 589 shares in the last quarter. National Pension Service boosted its stake in shares of Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 292 shares during the period. SVB Wealth LLC purchased a new stake in Exact Sciences during the 1st quarter worth $30,000. True Wealth Design LLC increased its stake in 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 during the period. Finally, Westside Investment Management Inc. lifted its holdings in 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 buying an additional 271 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. UBS Group lowered their price target on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Craig Hallum increased their price objective on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Stifel Nicolaus raised their target price on shares of Exact Sciences from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, BTIG Research upped their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.06.

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.