Pacific Biosciences stock surges 6.1% after Cathie Wood's ARK Invest buys 423,426 shares for $724,058.

Pacific Biosciences of California (PACB) shares rose 6.1% after Cathie Wood's ARK Invest purchased 423,426 shares for $724,058. The firm increased biotech holdings, and PACB closed at $1.88, up 8.4% from the previous close. The stock is volatile and has had 83 moves greater than 5% over the last year, indicating the market considers the news meaningful but not a fundamental change in perception.