399,871 Shares in Exact Sciences Co. (NASDAQ:EXAS) Acquired by Iron Triangle Partners LP

Iron Triangle Partners LP bought a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 399,871 shares of the medical research company’s stock, valued at approximately $27,239,000. Exact Sciences comprises approximately 3.8% of Iron Triangle Partners LP’s portfolio, making the stock its 12th biggest position.

Other large investors have also made changes to their positions in the company. WCM Investment Management LLC grew its holdings in Exact Sciences by 1,153.2% during the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. grew its holdings in shares of Exact Sciences by 67.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after buying an additional 11,800 shares during the period. Profund Advisors LLC grew its holdings in shares of Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after buying an additional 55,459 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after buying an additional 125,192 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after buying an additional 45,015 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $61.69 on Tuesday. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a 50 day moving average of $63.85 and a 200-day moving average of $56.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences Co. will post -1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several recent analyst reports. Craig Hallum lowered their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Piper Sandler lowered their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Benchmark cut their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. TD Cowen increased their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by company insiders.

Exact Sciences Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.