Cathie Wood Dumps Roku Again, Pumps $13M into CRISPR and Intellia Therapeutics

ARK Invest's flagship fund continues its dramatic portfolio pivot—dumping streaming play Roku while doubling down on genetic editing pioneers.

The Big Unload

Wood's team sold another chunk of Roku shares this week as the streaming stock continues its rocky performance. The move signals declining confidence in the once-high-flying media play that dominated ARK's portfolios during the pandemic boom.

The Gene Editing Gambit

Meanwhile, ARK poured exactly $13 million into CRISPR Therapeutics and Intellia—betting big on the next generation of medical technology. The investments target companies developing precision genetic editing techniques that could treat everything from rare diseases to cancer.

Wall Street's favorite disruptor keeps chasing the next big thing—because why stick with struggling streaming when you can bet on literally rewriting human DNA? Sometimes the hype cycle just needs bigger words.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Wood has been consistently trimming the funds’ position in Roku over the past several days. On Monday, the ARK Innovation ETF (ARKK) sold 141,194 shares of Roku, valued at approximately $13.30 million. Notably, Wood seems to be capitalizing on Roku’s recent rally, with shares up 30.6% over the past three months.

Moreover, ARK also sold 1,045 shares of precision oncology company Guardant Health (GH), continuing a trend of divestment in GH seen over the past week.

Wood Pours Millions into Biotech Stocks

Wood has recently been accumulating shares in innovative biotech companies, taking advantage of dips in their stock prices. The renowned hedge fund manager has expressed strong confidence in gene-editing technologies as a promising pathway to developing treatments for rare diseases.

On August 25, the ARKK ETF purchased 188,879 shares of CRISPR Therapeutics (CRSP), valued at $10.26 million. With ARK’s continued purchases of CRSP, the company now holds the #10 position across ARK’s combined portfolio, with a market value of $425.7 million and a 3.32% weighting.

Furthermore, Wood bought an additional 359,000 shares of Intellia Therapeutics (NTLA), worth $3.78 million. Finally, the ARKK ETF acquired 90,214 shares of cloud-based incident management platform PagerDuty (PD) for $1.50 million. This latest purchase underscores Wood’s growing confidence in PagerDuty’s role in digital operations and enterprise software. However, PD shares have lost 10.6% so far this year.

Here’s how these stocks perform on TipRanks’ Stock Comparison Tool: