In today's financial news, Cathie Wood's ARK ETFs made notable moves in the stock market on Friday, October 25, 2024. The investment management firm, known for its focus on disruptive innovation, reported its daily transactions, showing a mix of buying and selling across various sectors.
Leading the purchases was CRISPR THERAPEUTICS AG (NASDAQ:CRSP), with ARK acquiring a total of 49,865 shares valued at approximately $2,391,026. This move comes on the heels of consistent buying activity in CRSP over the past week, signaling a growing position in the gene-editing company's stock within ARK's portfolios.
ARK also increased its stake in CERUS CORP (NASDAQ:CERS), buying 777,912 shares across its ARKK and ARKG ETFs, totaling $1,267,996. This follows a pattern of accumulation in CERS shares throughout the previous week, highlighting ARK's bullish stance on the biomedical products company.
Another significant buy included JOBY AVIATION INC (NYSE:JOBY), with a total of 200,423 shares purchased, amounting to $1,210,554. The investment was split between ARK's ARKQ and ARKX ETFs, further diversifying the firm's exposure to the aerospace sector.
On the sell side, ARK trimmed its holdings in several companies. L3HARRIS TECHNOLOGIES INC (NYSE:LHX) saw a reduction of 912 shares from the ARKX ETF, totaling $222,683. This sale follows a larger divestment from L3Harris earlier in the week.
MARKFORGED HOLDING CORP (NYSE:MKFG) was another stock ARK sold off, with 97,744 shares worth $442,780 being liquidated from both ARKQ and ARKX ETFs. This trade is part of a noticeable trend of ARK offloading MKFG stock, as seen in the previous trading sessions.
MATERIALISE NV (NASDAQ:MTLS) also experienced a sell-off, with ARK parting with 22,878 shares through its ARKQ ETF, equating to $137,725. Additionally, VERTEX PHARMACEUTICALS INC (NASDAQ:VRTX) had 505 shares sold from the ARKG ETF, valued at $238,314.
Lastly, ARK bought 559,162 shares of PACIFIC BIOSCIENCES OF CALIFORNIA INC (NASDAQ:PACB), investing $961,758 in the biotechnology firm. This purchase was spread across the ARKK and ARKG ETFs, indicating a continued interest in the genomics space.
Investors and market watchers alike keep a close eye on ARK's daily trades, as Cathie Wood's investment strategies have garnered significant attention for their focus on innovative and disruptive technologies. Today's trades reaffirm ARK's commitment to companies they believe are poised for growth in their respective industries.
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