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ARK boosted its stake in this TechBio company by 45% on Monday
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Cathie Wood's flagship ARK Innovation ETF (ARKK) significantly raised its stake in a clinical-stage biotechnology company on Monday, data from the firm showed.
ARKK bought nearly 1.9 million shares of Recursion Pharmaceuticals (RXRX), which describes itself as a «clinical stage TechBio company decoding biology to industrialize drug discovery.»
The purchase on Monday boosted the firm's stake by 45% to 6,085,589 total shares.
ARK's stake in Recursion is worth about $40 million based on Monday's closing price and represents a 0.5% weighting in the ETF. The firm also owns shares of Recursion through the ARK Genomic Revolution ETF (ARKG) ETF, although none were added on Monday.
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