Cathie Wood's flagship ARK Innovation ETF (ARKK) significantly raised its stake in a clinical-stage biotechnology company on Monday, data from the firm showed.
ARKK bought nearly 1.9 million shares of Recursion Pharmaceuticals (RXRX), which describes itself as a "clinical stage TechBio company decoding biology to industrialize drug discovery."
The purchase on Monday boosted the firm's stake by 45% to 6,085,589 total shares.
ARK's stake in Recursion is worth about $40 million based on Monday's closing price and represents a 0.5% weighting in the ETF. The firm also owns shares of Recursion through the ARK Genomic Revolution ETF (ARKG) ETF, although none were added on Monday.