Exact Sciences Corporation [EXAS] Is Currently -2.73 below its 200 Period Moving Avg: What Does This Mean?

Exact Sciences Corporation [NASDAQ: EXAS] plunged by -$1.08 during the normal trading session on Thursday and reaching a high of $39.44 during the day while it closed the day at $38.48. 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.

Exact Sciences Corporation stock has also loss -9.16% of its value over the past 7 days. However, EXAS stock has declined by -26.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -50.91% and lost -50.56% year-on date.

The market cap for EXAS stock reached $6.75 billion, with 176.36 million shares outstanding and 175.38 million shares in the current float. Compared to the average trading volume of 2.11M shares, EXAS reached a trading volume of 2607826 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 2.56, with the Price to Sales ratio for EXAS stock in the period of the last 12 months amounting to 3.48. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 4.15.

EXAS stock trade performance evaluation

Exact Sciences Corporation [EXAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.16. With this latest performance, EXAS shares dropped by -19.83% in over the last four-week period, additionally sinking by -50.91% over the last 6 months – not to mention a drop of -58.53% 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 35.76, with the RSI for the last a single of trading hit 30.23, and the three-weeks RSI is set at 39.18 for Exact Sciences Corporation [EXAS]. The present Moving Average for the last 50 days of trading for this stock 43.77, while it was recorded at 41.22 for the last single week of trading, and 64.68 for the last 200 days.

Exact Sciences Corporation [EXAS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Exact Sciences Corporation [EXAS] shares currently have an operating margin of -41.27 and a Gross Margin at +68.66. Exact Sciences Corporation’s Net Margin is presently recorded at -33.71.

Return on Equity for this stock declined to -19.18, with Return on Assets sitting at -9.56.

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 Ownership positions

There are presently around $6,240 million, or 93.80% of EXAS stock, in the hands of institutional investors. The top three institutional holders of EXAS stocks are: VANGUARD GROUP INC with ownership of 15,977,871, which is approximately 2.147% of the company’s market cap and around 0.90% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 15,422,384 shares of the stock with an approximate value of $593.45 million in EXAS stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $576.11 million in EXAS stock with ownership of nearly 4.523% of the company’s market capitalization.

Positions in Exact Sciences Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 232 institutional holders increased their position in Exact Sciences Corporation [NASDAQ:EXAS] by around 10,601,310 shares. Additionally, 273 investors decreased positions by around 15,165,203 shares, while 101 investors held positions by with 136,392,852 shares. The mentioned changes placed institutional holdings at 162,159,365 shares, according to the latest SEC report filing. EXAS stock had 51 new institutional investments in for a total of 1,287,629 shares, while 100 institutional investors sold positions of 2,517,321 shares during the same period.


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