Cathie Wood Bought More CRISPR Therapeutics Stock 2 Days in a Row. Here’s What She Sees in the Biotech Stock.
Cathie Wood, the founder of Ark Invest, holds $379.1 million worth of shares of CRISPR Therapeutics (NASDAQ: CRSP) and on Friday, Oct. 9, and Monday, Oct. 12, went on a CRISPR Therapeutics buying spree, buying $1.1 million worth of the stock and $2.3 million worth of CRISPR stock on back-to-back market days, both in her ARK Genomic Revolution ETF (NYSEMKT: ARKG).
That’s a lot of faith in a biotech stock that is down a little more than 25% over the past year.
CRISPR’s lab has already demonstrated its CRISPR gene-editing proof of concept when it teamed with Vertex Pharmaceuticals (NASDAQ: VRTX) to produce Casgevy, which, with one intravenous (IV) infusion, has the potential to cure severe sickle cell disease and beta-thalassemia (two rare genetic blood diseases) in an individual.
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