tiprankstipranks
Trending News
More News >

Cathie Wood Makes $5M Biotech Buy, Trims Stake in Roku

Cathie Wood Makes $5M Biotech Buy, Trims Stake in Roku

Popular investor Cathie Wood’s ARK Invest made some notable trade moves on Wednesday, July 8. As per the daily trades published by ARK, Wood added to her position in gene-editing firm CRISPR Therapeutics (CRSP) and cut her stake in streaming platform Roku (ROKU).

Don’t Miss TipRanks’ Half-Year Sale

Wood Loads Up on CRISPR Stock

As per the daily trade disclosure, ARK bought 102,806 shares of CRISPR Therapeutics. The total trade was valued at around $5.26 million. This adds to Wood’s long-running interest in CRISPR’s gene-editing platform, a space she has steadily backed through ARK’s biotech picks.

Interestingly, CRISPR stock rose 7% on Tuesday after Needham reaffirmed its Buy rating and set a price target of $81 in a new research note, lifting investor sentiment.

Wall Street’s Take on CRISPR

On TipRanks, CRISPR stock has a Moderate Buy consensus rating based on 14 Buys and seven Hold ratings. Also, the average CRISPR Therapeutics price target of $69.44 implies a 26.67% upside potential from current levels. Year-to-date, CRSP stock has gained 39.3%.

See more CRSP analyst ratings

Wood Trims Holdings in ROKU Stock

Meanwhile, ARK trimmed its position in Roku, selling 20,813 shares worth about $1.83 million. This comes after a series of cuts recently, as ARK appears to be dialing down exposure to streaming and media-related stocks.

Roku is trading over 80% below its 2021 high of about $473, as it struggles with tough competition and a weak ad market. However, the stock is up 40% over the past year.

What is Roku’s Price Target?

According to TipRanks, Wall Street has a Moderate Buy consensus rating on ROKU stock, based on 12 Buys, six Holds, and one Sell assigned in the last three months. The average Roku stock price target of $89.14 implies a 1.13% upside potential.

Disclaimer & DisclosureReport an Issue

1