On Friday, Cathie Wood and her team at Ark Invest made notable trades, particularly in the biotechnology sector.
The firm expanded one of its funds’ position in Tempus AI Inc, while also making other minor adjustments in the portfolio.
The Tempus AI Trade: Ark purchased 53,376 shares of Tempus AI Inc, whose shares closed at $38.25, on Friday.
This acquisition, valued at approximately $2 million, was executed through the ARKG ETF. The trade aligns with Ark’s strategy of increasing its exposure to innovative biotech firms, as it continues to ramp up stakes in similar stocks such as Genomics Inc.
Tempus AI’s stock experienced a notable rise of 11.68% on the day, indicating investor optimism and possibly influenced by Ark’s investment.
Other Key Trades:
- Palantir Technologies Inc: Ark Invest sold 20,332 shares of Palantir Technologies Inc from the ARKF fund, worth approximately $1.6 million at a closing price of $79.89.
- Quantum-Si Inc: A significant reduction in Ark’s stake was seen with the sale of 452,570 shares of Quantum-Si Inc from the ARKG fund, valued at around $1.9 million, with the stock closing at $4.29.
- Recursion Pharmaceuticals Inc: Ark expanded its position by buying 44,887 shares of Recursion Pharmaceuticals Inc through the ARKG fund, totaling approximately $350,000 at a closing price of $7.80.
- ARK 21Shares Bitcoin ETF: The firm divested 18,476 shares from the ARKW fund, amounting to roughly $1.8 million, with the ETF closing at $98.24.
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