Cathie Wood Buys Into a Biotech With a Covid Connection

6 months ago 15

A biotech that's caught plus manager Cathie Wood's attraction precocious received FDA exigency authorization for a trial of Covid antibodies.

Star capitalist Cathie Wood, main enforcement of Ark Investment Management, has precocious built a involvement successful a biotechnology institution that earlier this month received a dose of bully news.

The banal is Adaptive Biotechnologies  (ADPT) - Get Adaptive Biotechnologies Corp. Report. The Food and Drug Administration has granted emergency-use authorization for a caller trial developed by the Seattle institution to find anterior Covid infections.

The caller trial differs from erstwhile ones the FDA has authorized to observe Covid antibodies. The Adaptive trial hunts for a T-cell effect that would bespeak whether idiosyncratic was infected previously.

Wood astir precocious bought Adaptive shares connected Thursday and has established a $100.3 cardinal presumption successful the Ark Genomic Revolution ETF  (ARKG) - Get ARK Genomic Revolution ETF Report. That makes Adaptive the fund’s 13th biggest holding.

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It’s hard to accidental whether Adaptive is simply a maturation oregon worth stock. After the institution went nationalist successful 2019, the banal soared 40% arsenic of Jan. 18, 2021, but has slumped 82% since then. 

To beryllium sure, it has rebounded 23% successful the past 11 days. It is present trading at little than fractional what i...

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