Top 5 From Cathie Wood’s Q2 Portfolio

In this article, we will be taking a look at the top 5 from Cathie Wood’s Q2 portfolio. To read our detailed analysis of her top 6-12 stocks as well as Wood’s investment history and strategy, you can go directly to the Top 12 From Cathie Wood’s Q2 Portfolio.

5. EXACT Sciences Corporation (NASDAQ:EXAS)

ARK Investment’s Stake Value: $745,744,000

Percentage of ARK Investment’s 13F Portfolio: 4.41%

Number of Hedge Fund Holders: 28

EXACT Sciences Corporation (NASDAQ:EXAS) is a biotech company providing cancer screening and diagnostic test products. The company operates in the U.S. and internationally.

An ‘Outperform’ rating was reiterated on EXACT Sciences Corporation (NASDAQ:EXAS) shares on August 28, by Dan Leonard at Credit Suisse. The analyst also has a $55 price target on the stock.

During the second quarter, EXACT Sciences Corporation (NASDAQ:EXAS) had an EPS loss of $0.94, beating estimates by $0.13. The company’s revenue was $522 million, also beating estimates by $25.5 million.

Out of 895 hedge funds tracked that filed 13Fs for the second quarter, 28 funds were long EXACT Sciences Corporation (NASDAQ:EXAS) with a total stake value of $1.1 billion.

RiverPark Funds, an investment management firm, mentioned EXACT Sciences Corporation (NASDAQ:EXAS) in its third quarter 2021 investor letter. Here’s what the firm said:

“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.”