In a series of trades on Tuesday, November 12, 2024, Cathie Wood's ARK Invest ETFs executed a mix of buy and sell orders, with a notable emphasis on the biotech and tech sectors. ARK's largest transaction of the day involved the purchase of 186,012 shares of Schrödinger Inc (NASDAQ:SDGR), a computational software company for drug discovery, amounting to approximately $3.63 million.
ARK also showed significant interest in Pacific Biosciences (NASDAQ:PACB) of California Inc (NASDAQ:PACB), a genomics company, by acquiring 288,662 shares valued at about $710,108. This move continues a trend of accumulation for PACB, which has seen consistent buying from ARK over the past week. Another substantial buy included 129,009 shares of 10X Genomics Inc (NASDAQ:TXG), a company that designs and manufactures gene sequencing technology, with a total dollar value of $2.05 million.
On the sell side, ARK parted with a considerable number of shares in the healthcare sector. The most substantial divestment was from Veeva Systems Inc (NYSE:NYSE:VEEV), a cloud-computing company focused on pharmaceutical and life sciences industry applications, with ARK selling 11,995 shares totaling approximately $2.84 million. Exact Sciences Corp (NASDAQ:EXAS), a molecular diagnostics company, also saw a significant sell-off, with ARK shedding 49,949 shares worth around $2.56 million.
Other notable trades included the purchase of Arcturus Therapeutics (NASDAQ:ARCT) Holdings Inc (NASDAQ:ARCT) shares, adding 32,985 shares to ARK's holdings, valued at $671,904. This follows recent buying activity in ARCT, suggesting ARK's growing optimism about the company's prospects. Conversely, ARK continued to reduce its position in Adaptive Biotechnologies Corp (NASDAQ:ADPT), selling 27,581 shares for a total of $179,000, continuing a sell-off trend from the previous day.
Smaller trades involved buys of Blade Air Mobility Inc (NASDAQ:BLDE), CRISPR Therapeutics AG (NASDAQ:CRSP), and Guardant Health Inc (NASDAQ:GH), along with sales of shares in Standard Biotools Inc (NASDAQ:LAB), Markforged Holding Corp (NYSE:MKFG), and Moderna Inc (NASDAQ:BMV:MRNA).
Investors following ARK's movements may interpret these trades as tactical shifts within the biotech and tech sectors, as the fund adjusts its portfolio to align with Wood's vision of disruptive innovation. While some positions are being trimmed, the continued investment in companies like Pacific Biosciences and 10X Genomics suggests a strong conviction in the long-term potential of genomic technologies.
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