Cathie Wood's Ark Buy More Moderna Shares As It Trims Stake In This Warren Buffett-Backed EV Maker

On Monday, Cathie Wood-led Ark Invest made a series of trades, the most notable of which involved selling 64,800 shares of Warren Buffett-backed EV maker, BYD CO LTD BYDDY BYDDF, through its ARK Autonomous Technology & Robotics ETF ARKQ, and buying up 61,741 shares of Moderna Inc MRNA through its ARK Genomic Revolution ETF ARKG.

The BYD Trade

The ARKQ ETF sold 64,800 shares in BYD, a company that recently achieved record deliveries of made-in-China vehicles and has set its sights on expanding into India’s EV market with a $1 billion investment proposal. The transaction was valued at $4.44 million, based on BYD OTC shares’ closing price of $68.55 on Monday.

This move by Ark Invest comes amidst a competitive global EV market, where even startups are showing potential.

See Also: Cathie Wood Booked Profit On Some Tesla Holdings Ahead Of Stock’s Post-Earnings 11% Plunge

The Moderna Trade

The Genomic Revolution ETF bought 61,741 shares in Moderna, a leader in mRNA technology. That transaction amounted to $7.6 million, based on Moderna’s closing price of $123.01 on Monday.

Moderna is considered fairly valued, balancing a declining COVID-19 base business with a promising pipeline of vaccines and rare-disease therapeutics. This purchase by Ark Invest suggests a belief in Moderna’s potential growth despite the competitive landscape.

Other Key Trades:

• The Genomic Revolution ETF bought 26,055 shares of Accolade Inc ACCD.
• Ark Invest’s ARKG ETF sold 40,600 shares of Exact Sciences Corp EXAS.
• ARKG sold 998 shares of Schrodinger Inc SDGR.
• The Autonomous Technology & Robotics ETF bought 135,361 shares of Cameco Corp CCJ.

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