Traders Purchase Large Volume of Put Options on Exact Sciences Corporation (EXAS)
Exact Sciences Corporation (NASDAQ:EXAS) saw unusually large options trading activity on Wednesday. Stock traders bought 23,517 put options on the company. This represents an increase of Infinity compared to the average daily volume of 0 put options.
In related news, insider Graham Peter Lidgard sold 45,775 shares of Exact Sciences Corporation stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total value of $2,453,540.00. Following the completion of the sale, the insider now directly owns 272,819 shares in the company, valued at approximately $14,623,098.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP D Scott Coward sold 29,115 shares of Exact Sciences Corporation stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the sale, the senior vice president now owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The disclosure for this sale can be found here. Insiders sold a total of 277,373 shares of company stock valued at $12,635,570 over the last quarter. 4.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Fortaleza Asset Management Inc. purchased a new stake in Exact Sciences Corporation in the 2nd quarter worth $106,000. Krilogy Financial LLC increased its holdings in Exact Sciences Corporation by 1,460.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after acquiring an additional 3,650 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Exact Sciences Corporation by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after acquiring an additional 600 shares in the last quarter. Financial Architects Inc increased its holdings in Exact Sciences Corporation by 90.0% in the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after acquiring an additional 2,035 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in Exact Sciences Corporation by 25.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after acquiring an additional 1,000 shares in the last quarter. 85.12% of the stock is owned by institutional investors.
Exact Sciences Corporation (NASDAQ EXAS) opened at $56.71 on Friday. The company has a quick ratio of 16.42, a current ratio of 10.34 and a debt-to-equity ratio of 0.01.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.07. Exact Sciences Corporation had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million during the quarter, compared to analysts’ expectations of $65.03 million. During the same period in the previous year, the business posted ($0.36) EPS. The business’s revenue was up 158.4% compared to the same quarter last year. equities research analysts expect that Exact Sciences Corporation will post -1.14 earnings per share for the current fiscal year.
EXAS has been the subject of several research reports. Craig Hallum lifted their price objective on shares of Exact Sciences Corporation from $35.00 to $41.00 in a research note on Friday, July 7th. Benchmark Co. set a $50.00 price objective on shares of Exact Sciences Corporation and gave the company a “buy” rating in a research note on Friday, July 7th. Canaccord Genuity restated a “buy” rating and set a $42.00 price objective (up from $38.00) on shares of Exact Sciences Corporation in a research note on Thursday, July 20th. BTIG Research restated a “buy” rating and set a $45.00 price objective (up from $35.00) on shares of Exact Sciences Corporation in a research note on Monday, July 17th. Finally, Vetr upgraded shares of Exact Sciences Corporation from a “sell” rating to a “buy” rating and set a $41.07 price objective for the company in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $49.71.
ILLEGAL ACTIVITY WARNING: “Traders Purchase Large Volume of Put Options on Exact Sciences Corporation (EXAS)” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/11/04/traders-purchase-large-volume-of-put-options-on-exact-sciences-corporation-exas.html.
About Exact Sciences Corporation
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
Receive News & Ratings for Exact Sciences Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exact Sciences Corporation and related companies with MarketBeat.com's FREE daily email newsletter.