EXACT Sciences Corporation (NASDAQ: EXAS)
EXACT Sciences is having an incredibly rough day in the market today. Since the opening bell, the stock has been taking a dive. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to EXAS ahead.
EXAS Is Having A Rough Day
As mentioned above, today isn’t the best of days for EXACT Sciences. Unfortunately, the stock has been falling since the opening bell and there seems to be no floor ahead. Currently (10:08), EXAS is trading at $16.00 per share after a loss of $1.41 per share (8.10%) thus far today.
Why The Stock Is Falling
As usual, as soon as we saw that EXAS was spiking downward, the CNA Finance team started working to find a reason for the movement. In this case, it took no time at all. The movement is being caused by massive insider sales.
According to recent reports, the CEO, CSO, and COO of the company all dumped a large amount of stock recently. In fact, between all three, they’ve offloaded about $25 million in shares. Of course, this is something investors don’t want to see. After all, if insiders are offloading shares, chances are that they know something is coming that could cause declines in EXACT Sciences.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching for any fundamental clues as to why EXAS insiders are offloading shares. It’s rare to see insiders getting rid of such large numbers of shares at the same time, so this is intriguing to say the least. Nonetheless, we’ll be watching the story closely and bringing the news to you as it breaks.
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