Cathie Wood ‘Buys the Dip' in Robinhood, CRISPR, and Beam Therapeutics Stocks
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The ARK Innovation ETF (ARKK) purchased 150,908 shares of Robinhood, valued at roughly $17 million. HOOD stock was down 6.5% yesterday. This was the largest trade of the day, marking Wood's growing interest in the trading platform and showing a consistent buying pattern recently. Following these purchases, Robinhood now ranks #7 in ARK's combined portfolio, with a market value of $681.4 million and a 4.29% weight.
On the sell-side, the largest trade was the sale of 113,952 shares of Tempus AI (TEM), valued at $8.6 million. This sale comes as a surprise, since Wood had been accumulating shares of this AI-powered precision medicine company in recent months. Wood also sold 218,031 shares of the sports data company, Genius Sports (GENI), worth $2.8 million.
Wood Pours Millions into Biotech Stocks
Interestingly, Wood continued to invest millions in biotechnology and gene-editing companies, aligning with her strong belief in this disruptive sector. Yesterday, the ARKK ETF added 215,146 shares of CRISPR Therapeutics, and the ARK Genomic Revolution ETF (ARKG) acquired another 8,657 shares. Together, the ARK funds bought $12.38 million worth of the gene-editing company. Wood appears to be buying the dip in CRSP shares, with the stock having dropped nearly 6% yesterday.
Similarly, the ARKK fund bought 509,618 shares of Beam Therapeutics, and the ARKG fund acquired another 30,610 shares, totaling about $9 million. Wood also capitalized on the 4.4% dip in BEAM stock on August 19.
Another notable trade was the purchase of roughly $15.9 million worth of shares of GeneDx Holdings Corp. (WGS), a health-tech company focused on DNA-based testing for rare and pediatric genetic conditions. Wood had also acquired $21.5 million worth of GeneDx shares the previous day.
Among other biotech trades, Wood purchased $9.6 million worth of shares in Twist Bioscience (TWST), $7.17 million in Intellia Therapeutics (NTLA), and $6.3 million in 10X Genomics (TXG).
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