Exact Sciences (EXAS) shares have pulled back in the past month due to a secondary offering and profit taking after a huge run-up. If the Preventive Services Task Force gives the company’s Cologuard cancer screening product a high rating, however, the stock will take off, said Garvin Jabusch, chief investment officer for Green Alpha Advisors. ‘It’s already being used at the Mayo-Clinic, they are obviously leaders in cancer prevention,’ said Jabusch. ‘They are also working on a non-invasive, just breathe into it, lung cancer screening so I do think there is reason to be cautious but the pullback could provide a really nice entry level should they get a favorable rating this year.’ Shares of Exact Sciences have fallen 18% in the past month, but are up 60% in the past 12 months. The medical laboratories and research company priced a 7 million share secondary offering on Tuesday at $25.50 a share which pulled the stock down over 6%. The company said it plans to use the net proceeds from the offering to fund the expansion of its Cologuard commercialization and product development efforts, as well as for general corporate and working capital purposes.
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