What's Going On With Exact Sciences Stock?

Exact Sciences Corp EXAS shares are trading higher Monday after the company announced preliminary fourth-quarter results. 

What Happened: Exact Sciences said it expects fourth-quarter revenue to grow 28% year-over-year, excluding COVID-19 testing. The company expects to report quarterly revenue between $550.7 million and $552.7 million. Full-year revenue is expected to be up 25% year-over-year. 

Exact Sciences said it now expects adjusted EBITDA profitability in the fourth quarter of 2022 and in full-year 2023, ahead of its previous target of third quarter 2023. 

"Exact Sciences' fourth quarter results show the strength of our business and the momentum building behind the best brands in cancer diagnostics, Cologuard and Oncotype DX," said Kevin Conroy, chairman and CEO of Exact Sciences.

Exact Sciences plans to report financial results in February.

On Friday, NYSE executive floor director Jay Woods told Benzinga Exact Sciences is the only name in the entire ARK Innovation ETF ARKK that looks ready to move higher from a technical perspective.

"It's the only one above its 20-, its 50- and its 200-day moving average. It's the only one that's flagging after a nice two legs up," Woods said. 

Related Link: NYSE Exec: There's 1 Stock In Cathie Wood's Fund That's Ready To Rise (It's Not Tesla)

EXAS Price Action: Exact Sciences has a 52-week high of $84.46 and a 52-week low of $29.27.

The stock was up 16.1% at $54.72 at time of publication, according to Benzinga Pro.

Photo: courtesy of Exact Sciences.