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Cathie Wood Sheds $5M In CRISPR Therapeutics, Scoops Up These Biotech Stocks Instead

Cathie Wood-led Ark Investment Management on Thursday sold 70,723 shares of gene editing company CRISPR Therapeutics AG CRSP, valued at over $5.58 million, via its flagship fund.

For ARK Innovation ETF ARKK, CRISPR is its fifth largest holding with a weight of 4.83%, according to holdings data on the firm’s website as of Thursday.

The flagship fund currently holds over 6 million shares in CRISPR valued at over $493 million. During the end of July, its CEO Samarth Kulkarni sold 25,000 shares, SEC filings showed.

Also Read: Alibaba Slips 1%, Nio, XPeng Rise Over 3%: Hang Seng Opens Firmer After Mixed Wall Street Session

Analyst Rating: Citigroup has increased the price target on the firm’s shares to $83, while maintaining a “neutral” rating, according to data from Benzinga Pro.

Stock Movement: The stock ended Thursday up 0.42% at $78.91.

Other Trades: ARKK bought 28,048 shares of cancer diagnostics firm EXACT Sciences Corporation EXAS, valued at over $1.38 million based on the stock’s last close. EXACT Sciences is the sixth largest holding of the fund at a weight of 4.66%. The stock closed 3.72% higher on Thursday.

The fund also bought 113,483 shares of Pacific Biosciences of California Inc PACB shares, valued at over $650,000 as of Thursday’s close.

The fund currently holds over 13.8 million shares in the firm valued at over $72 million, with a weight of 0.71%. Pacific Biosciences shares ended 11.52% higher at $5.81 on Thursday.

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