ARK shifts biotech portfolio: sells Absci, buys Prime Medicine

Cathie Wood’s ARK ETFs made Prime Medicine its largest purchase on Wednesday, acquiring 1,744,714 shares worth $6.8 million, while selling 478,402 Absci shares valued at $4.8 million. The biotech trades signal a portfolio shift. ARK also bought 348,176 Archer Aviation shares across three funds for $1.6 million, adding to a prior day’s purchase, and sold 220,351 BYD shares for $2 million. Smaller buys included Kratos Defense, Rocket Lab, and Scribe Therapeutics. The firm trimmed Honeywell Aerospace and Teradyne positions, continuing recent divestments. ARK’s daily activity shows increased focus on biotechnology and aerospace, with reduced stakes in electric vehicles and other sectors.