Cathie Wood's ARK ETF published their daily trades for Friday, October 18th, 2024, revealing a series of strategic moves in the biotechnology sector. ARK Invest, known for its focus on disruptive innovation, made its largest purchase in CRISPR THERAPEUTICS AG (NASDAQ:CRSP), acquiring a total of 33,762 shares across its ARKK and ARKG ETFs, with a total dollar value of $1,630,367. This follows a pattern of accumulation in CRSP, as ARK also bought sizable amounts of the stock in the previous two trading days.
Another significant buy for ARK was in INTELLIA THERAPEUTICS INC (NASDAQ:NTLA), with a total of 161,792 shares purchased between ARKK and ARKG ETFs, amounting to $3,394,396. This marks a continued trend of investment in Intellia, as ARK has been consistently increasing its position in the company over the past week.
On the other side of the ledger, ARK sold a substantial number of shares in MODERNA INC (NASDAQ:MRNA), parting ways with 93,975 shares through ARKK and ARKG ETFs, totaling $5,151,709. This sale represents the continuation of a selling trend in Moderna (NASDAQ:MRNA)'s stock, as ARK has been reducing its stake over the last several trading sessions.
In addition to these major trades, ARK also bought 236,401 shares of CERUS CORP (NASDAQ:CERS) for a total value of $385,333, distributed between ARKK and ARKG ETFs. This adds to the previous day's purchase, signaling a growing interest in the company.
The smallest transactions of the day involved MARKFORGED HOLDING CORP (NYSE:MKFG), with ARK selling a combined total of 740 shares through ARKQ and ARKX ETFs, equating to a modest $3,374. This sell-off is part of a broader pattern of divestment in Markforged Holding Corp, as ARK has been consistently selling the stock over the past week.
Investors following ARK's trading activity will note the ETF's ongoing strategy of investing in companies poised to benefit from technological advancements in the biotech industry while trimming positions in others as market dynamics shift. As always, ARK's trades offer a window into the firm's view of the evolving landscape of innovation-driven equities.
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