ARK Invest Shifts Capital from Tech to Biotech, Dumps Meta for GeneDx

Cathie Wood's ARK Invest executed a significant portfolio pivot this week, unloading $12.7 million in Meta Platforms shares while deploying $15.88 million into GeneDx Holdings. The genomic diagnostics firm saw its stock plummet 11.9% after issuing disappointing guidance, creating a buying opportunity for Wood's innovation-focused funds.

The investment firm's ARK Innovation and Genomic Revolution ETFs acquired 133,191 shares of GeneDx, betting on its position as a global leader in rare disease diagnosis with the largest genomic dataset in the field. ARK simultaneously added positions in gene-editing play Intellia Therapeutics and liquidated $13.29 million worth of Illumina stock.

These moves signal a broader strategic shift away from mature tech names toward early-stage biotech opportunities. Wood's team also trimmed exposure to Roku and Palantir while establishing new positions in aerial mobility companies Joby Aviation and Archer Aviation.