Cathie Wood's Ark Invest Dumps Over $9M In Moderna Stock — Even With Post-COVID Plans On The Table

On Thursday, Cathie Wood-led Ark Invest made a significant move by offloading shares of Moderna Inc MRNA. This decision comes amidst a backdrop of mixed analyst sentiments and Moderna’s recently unveiled post-COVID roadmap.

Don’t Miss:

• A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.
  This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.
• Powell’s moves don’t have to doom your high yields. You can still make great returns in private credit. Find out how.

The Moderna Trade

Ark Invest’s ARK Genomic Revolution ETF ARKG and ARK Innovation ETF ARKK sold a total of 160,994 shares of Moderna. The value of the trade, based on Moderna’s closing price of $56.83 on the day of the trade, is approximately $9.15 million.

Moderna’s stock has been under scrutiny following its recent announcement of a revised financial plan and updates to its mRNA-based pipeline. CEO Stéphane Bancel highlighted the company’s success in respiratory vaccines and outlined a focus on five non-respiratory products aiming for approvals by 2027.

However, the biotech company’s future prospects have elicited mixed reactions from analysts. Over the past three months, 16 analysts have shared their evaluations, with the average 12-month price target standing at $111.50, a decrease of 18.06% from the previous average.

Trending: This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.
This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.

Other Key Trades:

ARK Autonomous Technology & Robotics ETF (ARKQ) bought 3,589 shares of Advanced Micro Devices Inc (AMD) worth $589,242.

Ark Invest’s ARKG and ARKK bought a total of shares of 10X Genomics Inc (TXG).

ARKK also purchased shares of CRISPR Therapeutics AG (CRSP).

Blade Air Mobility Inc (BLDE), and 3D Systems Corp (DDD) while selling shares of Materialise NV (MTLS) and Markforged Holding Corp (MKFG).

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Keep Reading:

• Your biggest returns may not come from the stock market. Invest the way colleges, pension funds, and the 1% do. Get started investing in commercial real estate today.
• Interest rates are falling but you can still make high yields in real estate. Find out how.