Ark ETFs Increase Stakes in Gene Editing Biotechs Ark ETFs Increase Stakes in Gene Editing Biotechs

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By Ronald Tech

US-ECONOMY-MILKEN

Shares of CRISPR Therapeutics, Intellia Therapeutics, and Recursion Pharmaceuticals rallied as Cathie Wood-run Ark ETFs amped up their equity ownership in the gene editing and AI-focused drug discovery firms.

On Tuesday, ARK Innovation ETF and ARK Genomic Revolution ETF snapped up close to 280K shares of CRISPR Therapeutics in a transaction valued at approximately $20M, elevating their combined ownership in the Swiss biotech to around 10%.

The move came on the heels of CRISPR’s recent agreement to sell $280M worth of its common stock to a select group of institutional investors through a registered direct offering.

That same day, ARKK and ARKG acquired over 98K shares of Intellia Therapeutics for about $2.6M and nearly 519K shares of Recursion Pharmaceuticals for around $5.1M, pushing their ownership in both companies to approximately 11% each. RXRX shares ascended in November following ARKK’s purchase of 3.8M shares of the company.

Beam Therapeutics, Verve Therapeutics, Exact Sciences, and 10x Genomics were among the other notable ARK purchases on Tuesday.


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