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ARK boosted its stake in this TechBio company by 45% on Monday

Published 28/11/2023, 15:14
© Reuters.
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Cathie Wood's flagship ARK Innovation ETF (ARKK) significantly raised its stake in a clinical-stage biotechnology company on Monday, data from the firm showed.

ARKK bought nearly 1.9 million shares of Recursion Pharmaceuticals (RXRX), which describes itself as a "clinical stage TechBio company decoding biology to industrialize drug discovery."

The purchase on Monday boosted the firm's stake by 45% to 6,085,589 total shares.

ARK's stake in Recursion is worth about $40 million based on Monday's closing price and represents a 0.5% weighting in the ETF. The firm also owns shares of Recursion through the ARK Genomic Revolution ETF (ARKG) ETF, although none were added on Monday.

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