5 Biggest Genomics Companies In The World

 2. Exact Sciences Corporation (NASDAQ:EXAS)

Market Capitalization: $6.00 billion

Number of Hedge Fund Holders: 28

Founded in 1995, Exact Sciences Corporation (NASDAQ:EXAS) is a key provider of cancer screening and diagnostic testing covering the top 15 leading lethal cancers. Its product portfolio encompasses any cancer patient’s journey from the point of detection through monitoring and treatment. The company operates as a single business unit with an employee base of 6,580 employees.

On October 19, 2022, Alex Nowak, an analyst at Craig-Hallum, reduced his price target on Exact Sciences Corporation (NASDAQ:EXAS) to $35. The analyst believes that the shares of Exact Sciences Corporation (NASDAQ:EXAS) remain under pressure as its rival is soon expected to announce the results of its study of a blood-based colorectal cancer screening test. Any positive results of the study would cause a downside in Exact Sciences Corporation (NASDAQ:EXAS) stock.

Here is what RiverPark Large Growth Fund has to say about Exact Sciences Corporation (NASDAQ:EXAS) in its Q4 2021 investor letter:

Exact Sciences: EXAS shares declined on a disappointing recovery in Cologuard screening due to COVID. Despite continued revenue growth from Precision Oncology and COVID testing, and Cologuard screening revenue growth of 30%, COVID restrictions limited access to physicians’ offices for the company’s and its Pfizer Joint Venture sales force as well as causing a severe drop off of in-person wellness visits.

In the last year, Exact has also pivoted the company significantly from its single cancer screening tests (Cologuard for colon cancer and Oncotype for breast cancer) to multi-cancer screening through its Thrive acquisition, and to minimal residual disease and recurrence monitoring through its Ashion and Tardis acquisitions. Through this pivot, Exact has tripled its market opportunity from $20 billion to $60 billion.

As per Insider Monkey database, 28 hedge funds remained bullish on Exact Sciences Corporation (NASDAQ:EXAS) at the end of the second quarter. With 14,971,765 stocks, ARK Investment Management remained the fund with the biggest holder of the company’s shares.