Cathie Wood's ARK ETF published their daily trades for Thursday, October 17th, 2024, with a notable focus on the biotech sector. The most significant investment of the day was in CRISPR Therapeutics AG (NASDAQ:CRSP), where ARK bought a total of 91,665 shares across its ARKK and ARKG ETFs, amounting to a substantial $4,491,585. This purchase continues a trend for ARK, which has been consistently increasing its stake in the gene-editing company, indicating a strong conviction in CRISPR's potential.
Another major buy for the day was in Cerus Corp (NASDAQ:CERS), with ARK acquiring 466,684 shares for a total value of $840,031. This move suggests a growing interest in the biomedical products company, as it was the second-largest dollar-value trade of the day.
ARK also increased its holdings in Intellia Therapeutics Inc (NASDAQ:NTLA) by purchasing 29,739 shares valued at $612,028, further emphasizing its bet on the genomics industry. Additionally, ARK bought shares in Blade Air Mobility Inc (NASDAQ:BLDE) and 3D Systems Corp (NYSE:NYSE:DDD), with total dollar values of $19,488 and $35,611, respectively.
On the sell side, ARK reduced its exposure to Moderna Inc (NASDAQ:MRNA) by selling 19,544 shares for a total of $1,122,998. This follows a pattern of selling in the biotechnology company observed over the past week. ARK also continued to divest from Markforged Holding Corp (NYSE:MKFG) and Materialise NV (NASDAQ:MTLS), with sales amounting to $2,047 and $40,870, respectively.
Investors following ARK's trades might note the continued interest in the genomic sector, with consistent buys in companies like CRISPR Therapeutics and Intellia Therapeutics. The sales in Moderna and ongoing reductions in positions like Markforged Holding suggest a strategic shift in ARK's portfolio composition.
Overall, today's trades indicate a clear focus on innovative healthcare technologies, aligning with Cathie Wood's vision of investing in disruptive innovation. As ARK continues to adjust its holdings, market watchers and investors alike will be keen to see how these bets play out in the dynamic landscape of technological advancements.
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