Cathie Wood's Ark Invest Loads Up On Intellia Therapeutics Which Laid Off Over A Quarter Of Its Workforce

Cathie Wood-led Ark Invest made significant trades in five major companies on Friday: Recursion Pharmaceuticals Inc. (NASDAQ:RXRX), Illumina Inc. (NASDAQ:ILMN), Intellia Therapeutics Inc. (NASDAQ:NTLA), Cloudflare Inc. (NYSE:NET), and Adaptive Biotechnologies Corp. (NASDAQ:ADPT).

The RXRX Trade

Ark Invest’s ARK Innovation ETF (NYSE:ARKK) purchased a substantial 264,596 shares of Recursion Pharmaceuticals.

The value of this trade, calculated from the closing price of $6.88, is approximately $1.82 million. This move comes despite RXRX’s stock closing at a 5.23% decrease on Friday.

The ILMN Trade

Ark Invest’s Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF both bought shares of Illumina Inc.

ARKG acquired 4038 shares, while ARKK purchased 11425 shares. The combined value of these trades, calculated from the closing price of $136.69, is approximately $1.97 million.

This move was made despite Illumina's stock closing at a 2.14% decrease on Friday.

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The NTLA Trade

Ark Invest’s Genomic Revolution ETF and ARK Innovation ETF both bought shares of Intellia Therapeutics.

ARKG acquired 41503 shares, while ARKK purchased 124799 shares.

The combined value of these trades, calculated from the closing price of $10.2, is approximately $1.46 million. This move was made despite NTLA’s stock closing at a 15.14% decrease on Friday.

Intellia Therapeutics announced a 27% workforce reduction on Friday to cut costs.

The NET Trade

Ark Invest’s Next Generation Internet ETF (ARKW) sold 7840 shares of Cloudflare.

The value of this trade, calculated from the closing price of $112.62, is approximately $882,608. This move was made despite NET’s stock closing at a 2.66% decrease on Friday.

The ADPT Trade

Ark Invest’s Genomic Revolution ETF sold 130,790 shares of Adaptive Biotechnologies.

The value of this trade, calculated from the closing price of $6.5, is approximately $850,135. This move was made despite ADPT’s stock closing at a 2.84% decrease on Friday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Ark Invest