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Cathie Wood's ARK trades Incyte, Recursion stock, buys Blade Air Mobility

EditorLina Guerrero
Published 07/09/2024, 08:25 PM

Cathie Wood's ARK ETF published their daily trades for Tuesday, July 9th, 2024, showcasing a series of strategic moves within the tech and healthcare sectors. The trades indicate ARK's continued confidence in certain companies while reducing positions in others.

Topping the list with the highest dollar-value trade, ARK's ARKG ETF sold a significant holding of 51,641 shares in INCYTE CORP (NASDAQ:INCY), equating to approximately $3,003,956. This move follows a pattern of selling INCYTE shares, as the fund also reduced its position on Monday, July 8th, and Friday, July 5th, 2024, suggesting a bearish outlook on the biopharmaceutical company.

Conversely, ARK showed a bullish stance on RECURSION PHARMACEUTICALS INC (NASDAQ:RXRX), purchasing a total of 143,193 shares across its ARKK and ARKG ETFs, valued at $1,059,628. This follows a consistent buying trend, with ARK accumulating shares of RECURSION PHARMACEUTICALS throughout the past week.

Another notable purchase was BLADE AIR MOBILITY INC (NASDAQ:BLDE), with ARKQ ETF acquiring 177,289 shares totaling $611,647. The investment in the urban air mobility company is a continuation of ARK's interest in the aerospace sector, as seen with previous trades in BLADE AIR MOBILITY throughout the first week of July.

On the sell side, ARK's ARKK ETF parted with 909 shares of GINKGO BIOWORKS HOLDINGS INC (NYSE:DNA) for a modest $309, and ARKW ETF sold 47 shares of TELADOC HEALTH INC (NYSE:TDOC) at $435. These small-scale sales contrast with the larger divestment from TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD (NYSE:TSM), where ARKW ETF sold 3,995 shares, resulting in $745,586.

ARK also engaged in buying PACIFIC BIOSCIENCES OF CALIFORNIA INC (NASDAQ:PACB), PERSONALIS INC (NASDAQ:PSNL), TEMPUS AI INC (NASDAQ:TEM), and VERACYTE INC (NASDAQ:VCYT), with total dollar values of $227,213, $117,023, $709,318, and $724,063, respectively. These purchases reflect ARK's continued focus on genomic and biotech companies.

In the realm of sales, ARK's ARKK and ARKG ETFs sold a combined total of 75,932 shares of VERVE THERAPEUTICS INC (NASDAQ:VERV) for $430,534, and ARKK ETF sold 35,563 shares of ZOOM VIDEO COMMUNICATIONS INC (NASDAQ:ZM) with a dollar value of $2,041,316, indicating a pivot away from these stocks.

The daily trades provide a window into ARK's investment strategy, highlighting a mix of divestments and acquisitions that reflect the fund's dynamic approach to portfolio management. Investors and market watchers will closely monitor these moves to gauge ARK's outlook on the evolving market landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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