Ark Funds hosted an investor webinar Tuesday, sharing ideas on several industries and portfolio components, including a discussion on some names in the genomics space.
Ark Funds On Genomics: Ark Funds is well-known for its bullish thesis on the genomics market. The company has the Ark Genomic Revolution ETF ARKG, an ETF devoted to the growth of the segment.
Exact Sciences EXAS was highlighted by Ark Funds analyst Simon Barnett.
The company has made a series of acquisitions that could help the company’s position in the market, he said.
“Incorporating it all together, Exact can broaden out their portfolio [and] determine market share.”
Exact Sciences acquired the companies Thrive Earlier Detection Corp. and Base Genomics in 2020.
“Base is a really interesting company,” Barnett said, adding that he expects this acquisition in particular to “bear fruit” for Exact Sciences in the future.
In January 2021, Exact Sciences announced it acquired the license to the TARDIS technology from The Translational Genomics Research Institute.
The acquisition gives Exact Sciences technology that can be used to assess how a cancer is responding to treatment and not just pre-cancer screening technology.
One of the companies mentioned in the discussion was Quantum-Si, a company that's going public in a SPAC deal that includes a PIPE in which Ark Funds was involved. The company is merging with HighCape Acquisition Corp CAPA.
Quantum-Si has a sequencing approach that could help improve speed without the use of complex information algorithms, Barnett said.
“Improvements in semiconductor manufacturing is one of the ways to improve and unlock portions of the addressable market.”
Related Link: 15 Big Ideas In ‘Disruptive Innovation’ According To Cathie Wood, Ark Funds
The Ark Funds: The Ark Innovation ETF ARKK owns 4.7 million shares of Exact Sciences worth $580.7 million. The stock represents 2.6% of the fund's assets.
The Ark Genomics ETF owns 3.6 million shares of Exact Sciences worth $448.3 million. The stock represents 4.9% of assets in ARKG.
EXAS, CAPA Price Action: Shares of Exact Sciences were up 2.8% at $127.44 at last check Wednesday.
Shares of HighCape Capital Acquisition were up 6.46% at $13.85.
Disclosure: Author is long shares of CAPA.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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