Exact Sciences Corporation [EXAS] Stock trading around $42.36 per share: What’s Next?

Exact Sciences Corporation [NASDAQ: EXAS] price plunged by -6.14 percent to reach at -$2.77. The company report on August 2, 2022 that Exact Sciences and West German Study Group Announce New Study to Validate Detection of Minimal Residual Disease in Early-Stage Breast Cancer Patients.

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ADAPT Triad minimal residual disease analysis study intended to evaluate the association between circulating tumor DNA (ctDNA) positivity and recurrence intervals.

Exact Sciences Corp. (NASDAQ: EXAS), a global leader in cancer diagnostics, announced today that it has entered a collaboration agreement with the West German Study Group (WSG), an international research institution that focuses on practice-changing clinical studies in breast cancer. Together, Exact Sciences and WSG plan to conduct a prospective, multicenter validation study in hormone receptor (HR)-positive, HER2-negative early breast cancer patients. The study is intended to demonstrate the ability of Exact Sciences’ tumor-informed ctDNA liquid biopsy test to detect minimal residual disease (MRD) and to collect important long-term follow-up and outcome data.

A sum of 3889980 shares traded at recent session while its average daily volume was at 2.12M shares. Exact Sciences Corporation shares reached a high of $46.09 and dropped to a low of $42.07 until finishing in the latest session at $42.36.

The one-year EXAS stock forecast points to a potential upside of 40.85. The average equity rating for EXAS stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Exact Sciences Corporation [EXAS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EXAS shares is $71.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EXAS stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Exact Sciences Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, Raymond James dropped their target price from $160 to $130. The new note on the price target was released on November 03, 2021, representing the official price target for Exact Sciences Corporation stock. Previously, the target price had yet another drop from $165 to $145, while Stifel kept a Buy rating on EXAS stock. On July 29, 2021, analysts decreased their price target for EXAS shares from 161 to 155.

The Average True Range (ATR) for Exact Sciences Corporation is set at 2.86, with the Price to Sales ratio for EXAS stock in the period of the last 12 months amounting to 4.06. The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 3.92.

EXAS Stock Performance Analysis:

Exact Sciences Corporation [EXAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.20. With this latest performance, EXAS shares dropped by -9.47% in over the last four-week period, additionally sinking by -48.68% over the last 6 months – not to mention a drop of -55.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EXAS stock in for the last two-week period is set at 41.74, with the RSI for the last a single of trading hit 37.38, and the three-weeks RSI is set at 43.74 for Exact Sciences Corporation [EXAS]. The present Moving Average for the last 50 days of trading for this stock 44.49, while it was recorded at 44.88 for the last single week of trading, and 66.04 for the last 200 days.

Insight into Exact Sciences Corporation Fundamentals:

Exact Sciences Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.50.

Exact Sciences Corporation [EXAS] Insider Position Details

There are presently around $7,031 million, or 93.90% of EXAS stock, in the hands of institutional investors. The top three institutional holders of EXAS stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 19,180,232, which is approximately 39.107% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 15,641,994 shares of the stock with an approximate value of $662.6 million in EXAS stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $634.2 million in EXAS stock with ownership of nearly 4.523% of the company’s market capitalization.

229 institutional holders increased their position in Exact Sciences Corporation [NASDAQ:EXAS] by around 14,331,473 shares. Additionally, 290 investors decreased positions by around 9,348,360 shares, while 103 investors held positions by with 142,301,546 shares. The mentioned changes placed institutional holdings at 165,981,379 shares, according to the latest SEC report filing. EXAS stock had 54 new institutional investments in for a total of 668,483 shares, while 104 institutional investors sold positions of 1,488,190 shares during the same period.


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