Cathie Wood's ARK buys Intellia stock, trims DraftKings position

Cathie Wood's ARK ETFs executed a notable portfolio reallocation on Friday, August 29, 2025, significantly increasing their exposure to biotechnology while reducing holdings in the online sports betting sector. ARK purchased 133,015 shares of Intellia Therapeutics (NTLA) for over $1.5 million, marking a week-long pattern of accumulation and signaling strong confidence in gene-editing technology. Concurrently, ARK continued its divestment from DraftKings (DKNG), selling 12,990 shares across three ETFs for over $626,000, extending a recent trend of reducing its stake in the company. This strategic pivot highlights ARK's bullish outlook on biotech and its ongoing portfolio adjustments.

Analysis

ARK Invest executed a notable portfolio reallocation on August 29, 2025, signaling a clear strategic pivot from the online sports betting sector towards biotechnology. The firm's purchase of 133,015 shares in Intellia Therapeutics (NTLA) for approximately $1.54 million extends a week-long accumulation trend, indicating strong institutional conviction in the gene-editing company's future. Conversely, ARK continued its divestment from DraftKings (DKNG), selling 12,990 shares for over $626,000 across three ETFs (ARKK, ARKW, ARKF). This action is part of a larger, multi-day sell-off, with ARK having disposed of over 320,000 DKNG shares in the two preceding days. This capital rotation highlights a deliberate reduction in exposure to DraftKings while simultaneously increasing investment in what ARK evidently perceives as a high-conviction opportunity in the biotech space.

Key Decisions for Investors

• Given ARK's consistent and substantial buying of Intellia Therapeutics (NTLA), investors may interpret this as a strong institutional endorsement, warranting a deeper analysis of the gene-editing sector and NTLA's specific catalysts.
• The persistent, multi-day selling of DraftKings (DKNG) across several ARK ETFs signals notable bearish sentiment from a key growth-focused manager, and investors holding the stock should monitor for continued institutional selling pressure.
• Investors can observe ARK's transparent trading activity as a real-time signal of sentiment shifts within growth sectors, in this case a clear rotation from online entertainment into deep-tech biotechnology.