Cathie Wood Buys $7.8 Million of Moderna Vaccine Stock, Betting on Diversified Pipeline and Regulatory Wins

On Tuesday, Cathie Wood's Ark Invest significantly increased its stake in Moderna Inc. (MRNA), a prominent COVID-19 vaccine manufacturer, amid a series of upcoming catalysts for the biotech firm. Ark Invest purchased 72,800 shares of Moderna through its flagship Ark Innovation ETF (ARKK), valued at approximately $7.82 million. This move indicates Ark Invest's continued confidence in Moderna's potential beyond its mRNA COVID-19 vaccine, including a next-gen COVID-19 vaccine and other promising candidates.

Why Cathie Wood Just Bought $7.8 Million Worth of This COVID-19 Vaccine Stock

Embracing a "buy the dip" mentality, Cathie Wood's Ark Invest has significantly boosted its stake in Moderna Inc., a leading COVID-19 vaccine producer, with a strategic purchase of 72,800 shares. Priced at $107.41 each, this acquisition represents an investment of approximately $7.82 million.

Betting on Moderna's Diversified Pipeline

Ark Invest's enthusiasm for Moderna extends beyond the firm's mRNA COVID-19 vaccine. The investment firm sees immense potential in Moderna's broader pipeline, including a next-generation COVID-19 vaccine and promising candidates in various therapeutic areas.

Riding the Regulatory Wave

With expectations of vaccine approvals and upcoming investor events, Ark Invest anticipates Moderna's stock to soar despite its recent market underperformance. Moderna's stock has declined by 26.89% over the past 12 months, but has rebounded by 8% since the start of 2024.

Other Notable Trades

In addition to the Moderna purchase, ARKG, Ark's genomic revolution ETF, has shed 1,770 shares of Nvidia Corp. Valued at $1.63 million, this move signals a shift in focus within the ETF's portfolio.

Meanwhile, ARKF, Ark's fintech innovation ETF, has acquired shares of Roblox Corp., while ARKG has expanded its holdings in Recursion Pharmaceuticals with a purchase of 60,9626 shares. On the other hand, ARKQ, Ark's autonomous technology and robotics ETF, has sold shares of Trimble Inc.