Tesla Bull Cathie Wood Bought $1M Shares In This Biotech Stock Today

Tesla Inc TSLA bull Cathie Wood led Ark Investment Management on Thursday further raised its exposure in China-based biotech company Burning Rock Biotech Ltd BNR.

The investment firm bought 112,150 shares — estimated to be worth $1.08 million — in the biotech company, a stock it has been piling up on since November last year.

The St. Petersburg, Florida-based investment firm held 2.79 million shares — worth $26.7 million — in the biotech company, prior to Thursday’s trade.

Ark Invest holds shares in the biotech company via the Ark Genomic Revolution ETF ARKG.

Burning Rock Biotech focuses on providing individualized cancer treatment guidance for patients.

Ark Invest has large bets in Tesla, a stock it expects will touch the $3,000 mark by 2025.

The investment firm also bought shares in Adaptive Biotechnologies Corp ADPT on Thursday.

Posted In: BiotechLong IdeasNewsSector ETFsSmall CapTrading IdeasETFsGeneralARK InvestCathie Wood