A Look At Exact Sciences Corporation's Stock
Exact Sciences Corporation earlier this week was highlighted for being favored strongly by financial institutions.
The institutions held about 96 percent of the company's stock, and that amount had increased by almost 19 percent quarter over quarter.
This makes Exact Sciences a stock worth considering when it comes to strong biotech names that investors and traders may want to add to their portfolio.
The Company: Exact Sciences Corporation
Ticker Symbol: (NASDAQ: EXAS)
Sector: Health care
Exact Sciences Corporation is a molecular diagnostics company that focuses on developing diagnostic screening products for the early detection and prevention of colorectal pre-cancer and cancer.
Related Link: The Big Money’s Favorite Biotech Stock
The company has collaboration, license and purchase agreement with Genzyme Corporation, as well as with Mayo Clinic for developing tests to detect other gastro-intestinal cancers, primarily esophageal and pancreatic cancer.
Take a look at the one-year chart of Exact Sciences with added notations:
Exact Sciences embarked on a big rally after the stock bottomed just under $11 in May.
Along the way, the stock has formed a relatively clear trendline of support that is sitting near $19.
If the stock’s trendline support breaks, investors and traders could expect Exact to drop further.
The stock closed Tuesday at $19.38.
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