Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made notable portfolio moves on Thursday, April 9, as shown in ARK’s daily fund disclosures. The ace hedge fund manager increased exposure to GeneDx Holdings (WGS), which leverages AI and machine learning for genetic testing to help doctors diagnose rare diseases, especially in children.
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Forget margin or options. Here's how the pros trade ARKKAmong other trades, ARK funds acquired 3,447 shares of Arcturus Therapeutics (ARCT), while selling 3,478 shares of BWX Technologies (BWXT) and 57,744 shares of Strata Critical Medical (SRTA). These trades reflect Wood’s strategic portfolio shuffles amid volatile markets.
What Is the Future Outlook for WGS?
The ARK Innovation ETF (ARKK) and the ARK Genomic Revolution ETF (ARKG) bought 32,767 WGS shares for $1.97 million. Wood capitalized on an 8.5% dip in WGS stock to acquire shares at a discount. WGS stock has been under pressure over the past month from repeated analyst price-target cuts. News that CEO Katherine Stueland sold 46,933 WGS shares on March 26 added further pressure.
On TipRanks, WGS has a Strong Buy consensus rating based on eight unanimous Buy ratings. The average GeneDx price target of $145.38 implies 142% upside potential from current levels. These stats signal analysts’ enduring optimism about GeneDx’s long-term outlook, aligning with Wood’s conviction.
