5 Best ARK Stocks To Buy Now

In this article, we discuss the 5 best ARK stocks to buy now. If you want to read the detailed analysis of ARK Investment Management and its hedge fund performance, skip directly to the 14 Best ARK Stocks To Buy Now.

5. Exact Sciences Corporation (NASDAQ:EXAS)

Value of ARK Investment Management’s 13F Position: $570.580 million

Number of Hedge Fund Holders: 34

Exact Sciences Corporation (NASDAQ:EXAS) is a Massachusetts-based company focusing on molecular diagnostics for the detection of early-stage cancers. ARK Investment Management increased its holdings in the company in Q3 to 17.56 million shares worth $570.580 million. 

On November 14, Piper Sandler analyst David Westenberg reaffirmed a Neutral rating on Exact Sciences Corporation (NASDAQ:EXAS) and raised the price target from $40 to $50. Westenberg updated his price target due to the company’s latest earnings report.

Here is what RiverPark Funds had to say about Exact Sciences Corporation 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.”