ARK's Cathie Wood Dumps More Twitter Stock, Buys $20M in Fate Therapeutics Stock

Zinger Key Points
  • Wood's Ark Investment Management has sold 1,451 shares of Twitter.
  • Fate Therapeutics is the 21st largest holding in Ark Innovation ETF, the firm’s flagship fund.
ARK's Cathie Wood Dumps More Twitter Stock, Buys $20M in Fate Therapeutics Stock

Cathie Wood-led Ark Investment Management has bought 628,060 shares of clinical-stage biopharmaceutical company Fate Therapeutics Inc. FATE through two of the firm’s exchange-traded funds (ETF) valued at over $20 million based on Thursday’s closing price.

Fate Therapeutics is the 21st largest holding in Ark Innovation ETF ARKK, the firm’s flagship fund, with a weight of 2.08%. The fund holds over 6.5 million shares of the firm valued at over $211 million, according to its website.

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The stock has gained over 9% in a month. Fate Therapeutics recently reported revenues of $18.5 million for the second quarter of 2022. Its earnings per share stood at $-0.79 against the estimate of $-0.82 according to Benzinga Pro.

Twitter share sale: Ark Investment Management has sold 1,451 shares of Twitter Inc TWTR valued at over $63,000 via two of its funds.

Other Major Trades: Cathie Wood also bought 100,852 shares of Teladoc Health Inc TDOC valued at over $3.8 million via four of the firm’s funds. Wood sold over 1.3 million shares of Compugen Ltd. CGEN valued at over $1.9 million through two of the firm’s funds.

 

 

Posted In: Cathie WoodEurasiaLong IdeasNewsPenny StocksBroad U.S. Equity ETFsShort IdeasMarketsTrading IdeasETFs