Exact Sciences: Don’t Deem It Guilty by Association

Wrong place, wrong time.

That’s perhaps the most succinct explanation for Exact Sciences’ one-year bruises (EXAS) stock.

Shares of the genetic testing company are down 65% in the past year, including a 54% drop since early 2022.

Investors shouldn’t be surprised if Exact Sciences coughs up a small valuation during a biotech correction. After all, there was a significant surplus ingrained in valuations across the biotech sector.

But the market leader is just plain disrespected with its current market cap of $6.3 billion. There is also an explanation for this. Wall Street appears to be grouping in Exact Sciences with the doom and gloom of the wider competitive landscape in genetic testing.

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