Renowned investor Cathie Wood, chief executive officer of Ark Investment Management, again bought biotechnology stocks Wednesday, including one that programs cells with DNA as code.
Ark also repeated its buy of a spectrometry fund. All valuations below are as of Wednesday’s close.
The biotech company programing cells is Ginkgo Bioworks (DNA) . Ark funds purchased 1.55 million shares of the company, valued at $5.9 million.
Ginkgo’s Explanation
On its web site, Ginkgo says, “perhaps the most astonishing feature of biology is that it runs on digital code in the form of DNA, which makes it possible for us to imagine building such living machines.” Further, “the code is made up of A’s, T’s ,C’s, and G’s, and we can read and write it to program cells like we program computers.”
Ark Genomic Revolution ETF (ARKG) snagged 11,746 shares of Vertex Pharmaceuticals (VRTX), valued at $3.4 million. For the second day in a row, Ark Genomic Revolution snatched shares of biotech company Quantum-SI (QSI) , buying 15,000, valued at $64,350.
Ark Genomic Revolution snapped up shares of spectrometry company 908 Devices (MASS) for the second day in a row too, purchasing 11,744, valued at $221,257. Spectrometry has applications in detection of chemicals, explosives and illegal drugs as well as in medicine and other fields.
Ark funds bought 10,000 shares of biotech company Beam Therapeutics (BEAM) , valued at $515,200. And for the second consecutive day, Ark Genomic Revolution purchased shares of biotech company Personalis (PSNL), buying 6,854, valued at $50,377.
Wood Likes Bitcoin
Earlier in April, Wood reiterated her enthusiasm for bitcoin. “We think bitcoin has just begun” she said in an interview on CNBC. Institutions are just starting to catch up to individuals in using bitcoin, she said.
Wood called the world’s biggest digital currency by market value a hedge against inflation. But she didn’t mention that bitcoin had slid 26% during the prior 12 months, while inflation exploded. Consumer prices surged 8.5% in the 12 months through March.
Wood is sticking to her January prediction that bitcoin will crack $1 million by 2030. It has a host of use cases, including as an insurance policy for people of means so that their wealth can’t be confiscated, she said.
The author of this story owns shares of Vertex Pharmaceuticals.
