Partial Sale: Exact Sciences (EXAS)
Updated from Wall Street’s Best Investments 798, October 18, 2017
Exact Sciences (EXAS)—We decided to take partial profits in Exact Sciences (EXAS) earlier this week (selling one third of our shares) as the stock came under selling pressure after repeatedly being unable to get over the 60 level. However, that move will allow us to give our remaining shares more room to breathe—with some profit in the bank, we’ll allow shares to retreat back toward our cost basis (near 48) if need be.
Fundamentally, Exact still has tremendous potential as Cologuard use ramps up, which seems likely as worries surrounding insurance coverage and reordering have been answered. If you haven’t yet, you can take some off the table and hold the rest.
Michael Cintolo, Cabot Growth Investor, www.cabotwealth.com, 978-745-5532, December 6, 2017