Cathie Wood Bets Big on Biotech with Intellia, Dumps DraftKings Stock

ARK Invest's Cathie Wood has increased her stake in biotech firm Intellia Therapeutics (NTLA) by $1.54 million, while scaling back her position in online sports betting operator DraftKings (DKNG) by $626,507. NTLA stock has gained 65% in the past three months, while DKNG has risen 34%. TipRanks analysts have a Strong Buy consensus rating for both stocks, with an average target price of $29.56 for NTLA and $55.29 for DKNG.

ARK Invest's Cathie Wood has made notable adjustments to her portfolio, with significant moves in Intellia Therapeutics (NTLA) and DraftKings (DKNG). On August 29, 2025, ARK purchased 133,015 shares of Intellia Therapeutics, amounting to $1.54 million, while simultaneously reducing its position in DraftKings by selling 12,990 shares, totaling $626,507 [2].

Intellia Therapeutics has seen a substantial increase in its stock price, gaining 65% over the past three months. This growth is likely a factor in ARK's continued confidence in the company's future prospects, as evidenced by the fund's consistent buying of NTLA shares. The biotech firm specializes in gene editing and has been a key beneficiary of ARK's strategic pivot towards the sector [2].

Conversely, DraftKings, an online sports betting operator, has seen a 34% rise in its stock price over the same period. However, ARK has been scaling back its position in DKNG, indicating a potential strategic shift away from the company. The fund has been selling DraftKings shares across multiple ETFs over the past few weeks, suggesting a reallocation of resources to other sectors [2, 3].

The moves by ARK Invest are closely watched by investors and market watchers, as they can often influence market sentiment around the targeted stocks. The transparency of ARK's daily trade reports provides a unique insight into the investment strategies of one of the most closely followed fund managers in the industry [1, 2].

References:
[1] https://www.investing.com/news/company-news/cathie-woods-ark-buys-intellia-stock-trims-draftkings-position-93CH-4217460
[2] https://www.investing.com/news/company-news/cathie-woods-ark-buys-intellia-stock-trims-draftkings-position-93CH-4217460
[3] https://www.benzinga.com/etfs/specialty-etfs/25/08/47395443/cathie-wood-ditches-draftkings-stock-ahead-of-nfl-season-turns-to-prediction-markets-could-reshape-the-way