Cathie Wood's ARK ETF sheds Palantir, Unity stock, buys Beam, Twist

Cathie Wood's ARK ETF published their daily trades for Friday, November 15th, 2024, with a series of significant transactions that continue to shape the investment firm's innovative and tech-focused portfolio. The most noteworthy move of the day involved the sale of 197,847 shares of Palantir Technologies Inc (NYSE:), amounting to a dollar value of approximately $11.7 million. This sale was the largest in terms of dollar value for the day, underscoring a potential shift in ARK's investment strategy or a response to market conditions.

ARK's trading activity also highlighted a substantial sell-off of Unity Software Inc (NYSE:NYSE:), with 728,689 shares sold, totaling around $13.7 million. This move comes on the heels of a series of sales of Unity stock by ARK over the past week, suggesting a bearish outlook on the video game software development company from the investment firm.

On the buying side, ARK's most significant investment was in Beam Therapeutics Inc (NASDAQ:BEAM), with a purchase of 246,451 shares across its ARKK and ARKG ETFs, totaling approximately $6.5 million. This acquisition aligns with ARK's pattern of investing heavily in the biotech sector, particularly in companies focused on gene editing and therapeutics.

Another major buy for ARK was Twist Bioscience Corp (NASDAQ:), with 185,904 shares acquired for a value close to $7.2 million. This purchase adds to ARK's recent accumulation of Twist stock, indicating a strong conviction in the synthetic biology company's potential.

Other notable buys included CRISPR Therapeutics AG (NASDAQ:CRSP) with 96,013 shares purchased, Tempus AI Inc (NYSE:TEM) with 119,891 shares, and 10X Genomics Inc (NASDAQ:) with 279,801 shares, highlighting ARK's continued focus on genomics and personalized medicine.

Smaller trades, but still part of ARK's daily activity, involved buying shares of Guardant Health Inc (NASDAQ:), Joby Aviation Inc (NYSE:NYSE:), Intellia Therapeutics Inc (NASDAQ:), Personalis Inc (NASDAQ:), and Recursion Pharmaceuticals Inc (NASDAQ:RXRX). On the sell side, ARK reduced positions in Robinhood Markets Inc (NASDAQ:), Nurix Therapeutics Inc (NASDAQ:NRIX), Roblox Corp (NYSE:NYSE:), Senti Biosciences Inc (NASDAQ:SNTI), and Vertex Pharmaceuticals Inc (NASDAQ:).

The daily trades reflect ARK's ongoing strategy to invest in disruptive innovation and technologies, while also making adjustments that may be influenced by market dynamics or changes in the company's long-term outlook on certain stocks. Investors following Cathie Wood's ARK ETFs will be watching closely to see how these trades play out in the context of the broader market trends and the performance of the individual companies involved.

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