Catherine Wood's ARK Investment Boosts 2 Positions, Slims 1 in May

Disruptive innovation firm increases positions in 2 biotech companies

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James Li
Jun 10, 2021

Summary

  • Beam Therapeutics position increased by 31.96%.
  • Berkley Lights position increased by 30.96%.
  • HUYA position reduced by 50.55%.
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ARK Invest, the asset management firm founded by Catherine Wood (Trades, Portfolio), disclosed this week that it boosted its positions in Beam Therapeutics Inc. (

BEAM, Financial) and Berkley Lights Inc. (BLI, Financial) and trimmed its holding in HUYA Inc. (HUYA, Financial) in May, according to GuruFocus Real-Time Picks, a Premium feature of the website.

According to its website, the New York-based firm seeks to deliver long-term growth by investing in the stock of public companies that have the potential to benefit from disruptive innovation categories such as artificial intelligence, robotics, energy storage, DNA sequencing and blockchain technology.

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Beam Therapeutics

The fund purchased 1,527,445 shares of Beam Therapeutics (

BEAM, Financial), boosting the position 31.96% and the equity portfolio 0.24%. Shares traded around $78.23 on May 28.

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The Cambridge, Massachusetts-based biotech company produces genetic medicines based on its base-editing technology. According to GuruFocus, Beam Therapeutics’ cash-to-debt ratio of 3.69 and debt-to-equity ratio of 0.32 underperform more than 66% of global competitors.

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Gurus with holdings in Beam include Ron Baron (Trades, Portfolio)’s Baron Funds and Jim Simons (Trades, Portfolio)’ Renaissance Technologies.

Berkley Lights

The firm added 1,583,952 shares of Berkley Lights (

BLI, Financial), increasing the position by 30.96% and the equity portfolio 0.14%. Shares traded around $43.50 on May 28.

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The Emeryville, California-based biotech company focuses on the acceleration of development and commercialization of biotherapeutics and other cell-based products. GuruFocus ranks the company’s financial strength 6 out of 10 on the heels of a double-digit Altman Z-score despite cash-to-debt and debt-to-equity ratios underperforming more than 60% of global competitors.

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HUYA

The firm sold 5,554,468 shares of HUYA (

HUYA, Financial), slashing the position 50.55% and the equity portfolio 0.17%. Shares traded around $15.30 on May 28; the stock is significantly undervalued based on Thursday’s price-to-GF-Value ratio of 0.50.

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GuruFocus ranks the Guangzhou, China-based media company’s financial strength 7 out of 10 on several positive investing signs, which include a high Piotroski F-score of 7 and cash-to-debt and debt-to-equity ratios outperforming more than 90% of global competitors.

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Disclosures

I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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