Zinger Key Points
- Ark Invest bought shares of Twist Bioscience, a synthetic biology and genomics company, on Friday.
- Ark also bought shares of SomaLogic, a protein biomarker discovery and clinical diagnostics company.
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Cathie Wood's Ark Invest may have had a disappointing 2021, but the fund's purchases/liquidations are always watched keenly by investors. On Friday, ETFs managed by Ark Invest picked up chunks of shares of two healthcare companies.
Biology With A Twist: Twist Bioscience Corporation TWST is a synthetic biology and genomics company that has developed a DNA synthesis platform.
The company's platform uses a new technology to manufacture synthetic DNA by writing DNA on a silicon chip. This technology is used for manufacturing a wide array of synthetic DNA-based products, including synthetic genes, tools for next-gen sequencing (NGS) preparation and antibody libraries for drug discovery and development.
Twist Biosciences reported in February better-than-expected first-quarter results, thanks to the strong performance of SynBio. The company expects NGS and biopharma segments to drive growth in 2022, SVB Leerink analyst Puneet Souda said following the company's presentation at the SVB Leerink Global Healthcare Conference.
Ark Invest bought 25,704 shares of the company on Friday through its ARK Innovation ETF ARKK and ARK Genomic Revolution ETF (ARKG funds.
The average analysts' price target for Twist Bioscience shares is $75.83, suggesting over 43% upside from current levels.
Related Link: Why Morningstar Is Downgrading Cathie Wood's ARK Innovation ETF To Negative
SomaLogic - A Healthcare Tech Company: Colorado-based SomaLogic, Inc. SLGC is a protein biomarker discovery and clinical diagnostics company. The company's products include lab tests named SomaScan and SomaSignal, which help to gather proteomics information from patients and monitor their physiological states.
Proteomics refers to applications of technologies for the identification and quantification of overall proteins present in a cell, tissue or an organism.
SomaLogic's products are also used by researchers to analyze biological samples for protein biomarker signatures, which in turn can be used in drug discovery.
Ark Invest, through its ARKQ, bought 242,467 shares in the company on Friday.
The average analysts' price target of $15.50 for SomaLogic shares suggests there is room for nearly 100% upside.
Twist Biosciences closed Friday's session up 7.15% at $52.91 and SomaLogic settled 1.12% lower at $7.93.
Related Link: Attention Biotech Investors: Mark Your Calendar For April PDUFA Dates
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