Shares of Exact Sciences Corp. bounced off earlier lows Monday, after Chief Executive Kevin Conroy went mano-a-mano with famed short-seller Andrew Left on CNBC, with Conroy saying Left’s bearish comments were “dead wrong.” The stock had tumbled as much as 8.1% just before noon ET, after Left’s Citron Research released a report saying the company’s Cologuard screening test was a “seriously inferior product and a disastrous business model.” After both Conroy and Left went at it on CNBC, with Conroy defending the company and Left pushing his bearish view, the stock pared losses to be down just 3.1% around 12:30 p.m., before pulling back to be down 4.9% in recent trade. The stock, which had closed at a record $35.43 on May 5, has more than doubled year to date, while the iShares Nasdaq Biotechnology ETF has climbed 11% and the S&P 500 has gained 7.3%.
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