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EXACT SCIENCES CORP [EXAS]

Reporting date: 10/09/2024

⚠️ Neutral → Slightly Bearish Insider Sale Detected

📝 What Happened

  • Insider: James Herriott; James Edward Doyle
  • Role: SVP, General Counsel & Sec; Director
  • Company: EXACT SCIENCES CORP (EXAS)
  • Transaction Date(s): 2025-10-09
  • Table I (Non-Derivative Securities)
    • Sale : 3,500 shares
    • Average Sale Price: $60.00
    • Total Value: 3,500 * $60.00 = $210,000
    • Post-Transaction Direct Holdings: 72,047 shares (14,085 for James Herriott; 57,962 for James Edward Doyle)
    • Indirect Holdings: 1,556 shares (James Herriott; held in 401(k) Plan)
    • 10b5-1 Plan Used? Yes (sales effected pursuant to Rule 10b5-1 plans)

    📄 Summary

    James Herriott; James Edward Doyle, SVP, General Counsel & Sec; Director at EXACT SCIENCES CORP (EXAS), sold 3,500 shares on October 9, 2025, at an average price of $60.00, realizing proceeds of about ~$210,000. After the transaction, they now hold 72,047 direct shares total (14,085 direct for Herriott; 57,962 direct for Doyle) and 1,556 indirect shares (Herriott, 401(k)). For retail traders, this is a neutral-to-slightly-bearish event: routine 10b5-1 plan sales, modest relative to holdings.

    🔑 Interpretation

    The sales were executed under Rule 10b5-1 trading plans (both filings reference 10b5-1), indicating pre-arranged, formulaic dispositions rather than ad hoc discretionary sales. The trades represent a small percentage of each insider's post-transaction holdings and appear to be routine plan-based liquidity rather than an urgent sell-off.

    🔑 Interpretation

    • Type: Comp-related (10b5-1 plan executions)
    • Disposition: Sold pursuant to pre-established plans (not a spontaneous open-market dump)
    • Size Context: Combined sale of 3,500 shares is small relative to combined direct holdings (~72,047 shares) — appears like routine profit-taking or scheduled liquidity rather than large-scale divestiture.
    • ATH Metric: The sales occurred at ~$60.00 per share. Using the sale price and recent trading as a reference, this transaction does not appear timed at an obvious all-time high or low; it looks executed at near-current market levels per the 10b5-1 plans rather than opportunistic timing around historical extremes.
    • Outlier Check: Not unusually large compared to the insiders' reported holdings (the sales represent a low single-digit percentage of combined direct holdings), and both trades reference 10b5-1 plans — not an outlier.

    📊 Bullish or Bearish?

    Neutral → Slightly Bearish

    Neutral → Slightly Bearish. The filing shows net sales (3,500 shares) executed under 10b5-1 plans, indicating scheduled disposals rather than discretionary insider selling; the size is modest relative to holdings and therefore not a strong negative signal. Cluster activity cannot be determined from this filing alone.

    ✅ Bottom Line (Retail Takeaway)

    This transaction looks like routine profit-taking executed under pre-established 10b5-1 plans rather than a definitive bearish signal. For retail traders, it’s noise — not a tradeable event on its own unless corroborated by larger or discretionary sales from multiple senior executives.