Iron Triangle Partners LP Purchases 200,129 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Iron Triangle Partners LP grew its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600,000 shares of the medical research company's stock after buying an additional 200,129 shares during the quarter. Exact Sciences accounts for approximately 3.7% of Iron Triangle Partners LP's portfolio, making the stock its 13th largest holding. Iron Triangle Partners LP owned about 0.32% of Exact Sciences worth $33,714,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Asset Planning Inc bought a new stake in Exact Sciences in the 4th quarter worth $40,000. AlphaQuest LLC boosted its holdings in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after purchasing an additional 913 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Exact Sciences in the fourth quarter worth about $66,000. Ostrum Asset Management increased its holdings in Exact Sciences by 28.4% during the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock valued at $134,000 after purchasing an additional 527 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in Exact Sciences during the 4th quarter valued at about $188,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Wall Street Analyst Weigh In

EXAS has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Robert W. Baird lifted their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Scotiabank boosted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. William Blair restated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, Bank of America cut their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Stock Up 0.4%

Shares of EXAS traded up $0.25 during mid-day trading on Friday, reaching $56.42. The company had a trading volume of 3,197,573 shares, compared to its average volume of 2,606,156. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of -10.13 and a beta of 0.92. The firm has a 50-day moving average price of $46.16 and a 200 day moving average price of $52.41. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The business had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same period in the previous year, the company posted ($0.60) earnings per share. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current year.

About Exact Sciences

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.