Cathie Wood’s ARK Buys IRDM Stock, Sells ILMN and VEEV

Cathie Wood’s ARK ETF has published their daily trades for Friday, March 21st, 2025, showcasing a series of strategic moves within the innovative technology and biotech sectors. The most significant transaction of the day involved the purchase of 48,355 shares of Iridium Communications Inc (NASDAQ:IRDM), with a total dollar value of $1,332,180. This acquisition was spread across three of ARK’s ETFs, indicating a strong bullish stance on the satellite communications company.

In a notable sell-off, ARK reduced its holdings in Illumina Inc (NASDAQ:ILMN), offloading a total of 42,616 shares. While the specific dollar value of this transaction was not provided, it follows a pattern observed earlier in the week, suggesting a potential shift in ARK’s investment strategy regarding the biotech firm.

Another major trade involved the sale of 1,322 shares of Veeva Systems Inc (NYSE:VEEV), valued at $311,793. This continues a trend of selling VEEV shares, as seen in previous days’ trading activity.

ARK’s ETFs also actively engaged in buying and selling within the biotech sector. They purchased 71,392 shares of Absci Corp (NASDAQ:ABSI) and 28,717 shares of Beam Therapeutics Inc (NASDAQ:BEAM), totaling $217,031 and $656,757 respectively. Conversely, they sold 990 shares of Amgen Inc (NASDAQ:AMGN) for $311,889 and 54,786 shares of Repare Therapeutics Inc (NASDAQ:RPTX) at a value of $61,360.

The ARK ETFs further accumulated 243,300 shares of Pacific Biosciences of California Inc (NASDAQ:PACB), investing $306,557, and 27,491 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX) with a total dollar value of $178,141.

These transactions reflect ARK’s continued focus on genomic revolution and innovative technology stocks, adjusting their positions as market dynamics and company prospects evolve. The consistent buying of IRDM shares across multiple ETFs suggests a strong conviction in the company’s future growth potential, while the repeated sales of ILMN, VEEV, and RPTX indicate a strategic divestment from these positions.

Investors following ARK’s ETFs should note these trades as part of the broader investment patterns and strategies employed by Cathie Wood and her team, which are often indicative of their long-term expectations for the technology and biotech industries.

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