Cathie Wood's ARK ETFs have made significant moves in the stock market on Thursday, 27 June 2024, with a particular focus on tech and biotech sectors. Leading the buying activity was RECURSION PHARMACEUTICALS INC (NASDAQ:RXRX), with ARK purchasing 2,876,830 shares valued at approximately $25.2 million. This was followed by a substantial investment in ROKU INC (NASDAQ:ROKU), adding 162,205 shares to its holdings for a total dollar value nearing $9.3 million.
On the selling side, ARK divested a significant portion of its stake in ZOOM VIDEO COMMUNICATIONS INC (NASDAQ:ZM), offloading 402,163 shares with a total value surpassing $23 million. Another notable sale was GINKGO BIOWORKS HOLDINGS INC (NYSE:DNA), where ARK reduced its position by 36,832,558 shares, equating to a value of over $10.4 million.
One of the largest buys after RXRX and ROKU was in INTELLIA THERAPEUTICS INC (NASDAQ:NTLA), with ARK acquiring 63,600 shares, valued at about $1.46 million. PAGERDUTY INC (NYSE:PD) also saw increased interest from ARK, with a purchase of 60,512 shares totaling approximately $1.36 million.
ARK continued to show confidence in the genomics space, buying 144,505 shares of ABSCI CORP (NASDAQ:ABSI) and 68,174 shares of ADAPTIVE BIOTECHNOLOGIES CORP (NASDAQ:ADPT), with a combined value of nearly $676,000. Additionally, ARK bought 119,698 shares of 10X GENOMICS INC (NASDAQ:TXG) for roughly $2.33 million.
The investment firm also trimmed its holdings in COINBASE GLOBAL INC (NASDAQ:COIN) by selling 3,276 shares valued at approximately $703,000. Other sales included EXACT SCIENCES CORP (NASDAQ:EXAS) and TELADOC HEALTH INC (NYSE:TDOC), where ARK sold 13,943 and 348,204 shares respectively.
Smaller-scale trades included the purchase of 23,883 shares of MARKFORGED HOLDING CORP (NYSE:MKFG) and the sale of 59,600 shares of VELO3D INC (NYSE:VLD).
This trading activity signals ARK's ongoing strategy to adjust its portfolio towards companies they believe are poised for growth, especially in the innovative tech and biotech sectors. Investors have been closely monitoring ARK's trades as indicators of market trends and potential growth opportunities. The continued accumulation of certain stocks suggests a bullish outlook for these companies, while the divestment from others may reflect a strategic shift in ARK's investment thesis.
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