Cathie Wooden Buys Little-Recognized Pharma Agency’s Shares for Two Weeks

(Bloomberg) — Cathie Wooden has been shopping for shares of Nurix Therapeutics Inc., a small and comparatively little-known biopharmaceutical firm, each buying and selling day since Oct. 10.

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Wooden’s Ark Genomic Revolution ETF has bought greater than 840,000 shares within the San Francisco-based firm, which has a market capitalization of $518 million, over the past eight periods, in line with information compiled by Bloomberg.

The fund began shopping for after Nurix shares dropped greater than 75% from their January 2021 report. Analyst scores include 10 buys, 1 maintain and no promote suggestions, with a median goal worth of $34.91, implying a return of 218% over the following 12 months, Bloomberg information present.

Ark Funding Administration LLC has stored shopping for whilst its ETF’s buying and selling exercise approached a standstill over the previous couple of days. Ark ranks among the many high 15 shareholders in Nurix with a stake of greater than 2.7%.

Nurix’s web site says the corporate “discovers medication that harness the physique’s pure course of to regulate protein ranges” and focuses on “creating focused therapies to deal with most cancers together with novel, small molecule immuno-oncology brokers.”

Ark’s ETF specializing in innovation in drugs is down 50% this 12 months in contrast with a drop of 12% for the S&P 500 Well being Care Index.

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