Cathie Wood sells 100K shares of Exact Sciences

Cathie Wooden unloaded simply over 100K shares of Precise Sciences (NASDAQ:EXAS) on Tuesday just a few weeks after her workforce predicted that the inventory may almost triple in worth by the 12 months 2027. Since that decision, EXAS has climbed greater than 35%.

In whole, Wooden offered 100,326 shares of EXAS by her flagship ARK Innovation ETF (NYSEARCA:ARKK) and ARK Genomic Revolution ETF (BATS:ARKG). ARKK unloaded 63,674 shares whereas ARKG shed 36,652 shares.

On Jan. 5, Ark Make investments said: “In our base case, shares of Precise Sciences may compound at a mean annual charge of 25%, reaching $140 by 2027.” On the time, the inventory was buying and selling at simply over $48 a share. An advance to her $140 goal represented a rally of greater than 190% from that stage.

EXAS closed Tuesday’s buying and selling at $65.30, climbing greater than 35% since Jan. 5.

In keeping with Ark’s commerce data, ARKK and ARKG each classify EXAS as the highest holding in each funds. ARKK weights EXAS at 8.58% and has a complete market worth within the inventory at $620.18M. ARKG has a fair larger weighting at 12.34%, holding a $272.38M market worth stake within the inventory.

EXAS is held by 108 ETFs however ARKG and ARKK symbolize the primary and two heaviest positions. The third-place fund is the First Belief Nasdaq Lux Digital Well being Options ETF (NASDAQ:EKG) with a 4.28% declare within the molecular diagnostics firm.

In Wednesday’s premarket motion, ARKK has discovered itself -2.3%, ARKG was decrease by 0.8%, and EXAS slipped by 1.5%.

In different ARK Make investments associated information, regardless of ARKK’s dismal efficiency in 2022 the fund nonetheless attracted essentially the most vital inflows amongst thematic ETFs over a latest twelve-month interval.