Ark Invest sells Tempus AI and trims AMD holdings
Cathie Wood-led Ark Invest sold 250,062 Tempus AI shares through ARKK and trimmed AMD via ARKQ and ARKX on Tuesday.
On Tuesday, Cathie Wood -led Ark Invest made significant trades involving Tempus AI, Inc. (NASDAQ: TEM ) and Advanced Micro Devices, Inc. (NASDAQ: AMD ).
These trades reflect Ark’s strategic adjustments amid evolving market dynamics.
The Tempus AI Trade Ark Invest executed a substantial sell-off of Tempus AI, Inc. shares on Tuesday.
The firm sold 250,062 shares of Tempus AI through its ARK Innovation ETF (BATS: ARKK ).
With Tempus AI’s stock closing at $62.27, this transaction was valued at approximately $15.6 million.
This move comes after Tempus AI’s recent surge in stock price, which was linked to a successful Phase 3 clinical trial by Merck & Co. and Moderna Inc.
The trial validated Tempus’s acquisition of Personalis, marking a significant milestone in mRNA-based cancer treatment.
Tempus AI’s stock has been in the spotlight since the trial results were announced, showcasing the potential of personalized mRNA therapies.
Read Also: This Strategist Is Betting Against a September Fed Rate Hike as Markets Turn Hawkish After Kevin Warsh’s Jackson Hole Speech: 'It's Not Going to be Material' The AMD Trade On the same day, Ark Invest also reduced its holdings in AMD.
The firm sold 4,136 shares through ARK Autonomous Technology & Robotics ETF (BATS: ARKQ ) and 3,314 shares via ARK Space & Defense Innovation ETF (BATS: ARKX ).
With AMD’s stock closing at $459.61, the total value of these transactions amounted to approximately $3.4 million.
On Monday, Ark sold $4.1 million worth of AMD stock, continuing its recent trend of offloading shares of the Lisa Su- led chipmaker.
Ark’s AMD holdings are currently estimated to be worth $160.2 million, with the stock accounting for 2.65% of the portfolio.
The move came after AMD announced plans to expand its AI infrastructure in Saudi Arabia through a collaboration with Cisco Systems Inc. and HUMAIN Other Key Trades Purchased 420,602 shares of Rocket Lab Corp (RKLB) through ARKK, 60,164 shares through ARKQ and 24,033 shares via ARKX.
Sold 46,771 shares of Twist Bioscience Corporation (TWST) via ARKK.
Sold 43,882 shares of Shopify Inc. (SHOP) through ARKK.
Edge Stock Rankings indicate Tempus AI stock has a Momentum score in the 52nd percentile.
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