Cathie Wood's ARK ETFs have made significant moves in the biotech sector and adjusted their holdings in major tech stocks on Friday, 13 December 2024. Leading the trades was a substantial sale of Tesla Inc (NASDAQ:TSLA) shares, with a total of 76,660 sold across ARKK and ARKQ ETFs, amounting to over $32 million in value. This trade comes after a series of sales of the electric vehicle giant's stock by ARK throughout the past week.
On the acquisition front, ARK's largest purchase was of CRISPR Therapeutics AG (NASDAQ:CRSP), with 183,901 shares bought between ARKK and ARKG ETFs, valued at approximately $8.35 million. This move indicates a strengthening of ARK's position in the gene-editing company, aligning with Wood's investment strategy focusing on disruptive innovation.
Beam Therapeutics Inc (NASDAQ:BEAM) also saw an influx of investment from ARK, with a combined purchase of 34,520 shares through ARKK and ARKG ETFs, totaling nearly $969,000. This buy reflects a continued interest in the genome editing company.
In the realm of smaller trades, ARK bought 51,262 shares of Intellia Therapeutics Inc (NASDAQ:NTLA) for around $695,000 and 95,759 shares of Tempus AI Inc (NYSE:TEM) for about $4.02 million, further emphasizing the ETF's focus on genomics and artificial intelligence.
On the sell side, besides the notable Tesla transaction, ARK divested 179,509 shares of Adaptive Biotechnologies Corp (NASDAQ:ADPT) from its ARKG ETF, worth over $1.1 million, and 26,258 shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) for roughly $972,000. Additionally, 13,797 shares of Rocket Lab USA Inc (NASDAQ:RKLB) were sold from the ARKX (NYSE:ARKX) ETF, valued at about $312,000, and 2,394 shares of Veeva Systems Inc (NYSE:NYSE:VEEV) were sold for around $557,000.
The past week's trades show a clear pattern of ARK's investment strategy, with consistent selling of Tesla shares and a focus on adding to positions in biotech companies like CRISPR Therapeutics and Tempus AI, highlighting Wood's confidence in the healthcare technology sector's growth potential. Investors following ARK's trades will likely keep a close eye on these trends as indicators of the ETF's market outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.