Cathie Wood's ARK ETFs have reported their daily trades for Wednesday, November 20th, 2024, demonstrating a continued focus on the biotech and tech sectors, with significant buys and sells that may indicate emerging trends for attentive investors.
Topping the list with the largest dollar-value trade, ARK purchased 383,291 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX), valued at approximately $2,403,234. This move suggests a bullish stance on the company, known for its AI-driven drug discovery platform, and follows a pattern of accumulation as seen with previous trades last week.
In another major buy, ARK added 31,859 shares of Twist Bioscience Corp (NASDAQ:TWST), a company specializing in synthetic DNA, for a total value of $1,316,413. This trade continues ARK's recent trend of investing in the genomic sector and appears to be a vote of confidence in the company's growth potential.
A significant sell was executed in Standard Biotools Inc (NASDAQ:LAB), with ARK divesting 425,234 shares, resulting in a cash outflow of $642,103. This sell-off follows a pattern of reducing exposure to Standard Biotools, as seen in the previous days' trades.
ARK also sold 34,527 shares of Unity Software Inc (NYSE:NYSE:U), a real-time 3D content platform, for a total of $683,634. This trade is part of a larger trend of ARK reducing its position in Unity Software (ETR:SOWGn) over the past week.
On the buying side, ARK showed continued interest in Pacific Biosciences (NASDAQ:PACB) of California Inc (NASDAQ:PACB), acquiring 33,764 shares across its ARKK and ARKG ETFs, valued at $58,074. This purchase adds to a growing position in the company, which specializes in long-read sequencing technologies.
Additionally, ARK invested $941,506 in Tempus AI Inc (NYSE:TEM), a tech company that uses artificial intelligence to personalize patient care, by buying 17,445 shares. This follows a substantial investment in Tempus AI earlier in the week, suggesting a strong conviction in the company's prospects.
The smaller trades of the day included purchases of Blade Air Mobility Inc (NASDAQ:BLDE) and sales of Exact Sciences Corp (NASDAQ:EXAS), Markforged Holding Corp (NYSE:MKFG), Moderna Inc (NASDAQ:BMV:MRNA), Materialise NV (NASDAQ:MTLS), Repare Therapeutics Inc (NASDAQ:RPTX), and Senti Biosciences Inc (NASDAQ:SNTI).
Investors following ARK's moves may find these transactions indicative of the fund's strategic shifts and focus areas, as ARK continues to navigate the dynamic landscape of innovative companies.
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