ARK boosted its stake in this TechBio company by 45% on Monday

Cathie Wood's flagship ARK Innovation ETF (NYSE: ARKK) significantly raised its stake in a clinical-stage biotechnology company on Monday, data from the firm showed.

ARKK bought nearly 1.9 million shares of Recursion Pharmaceuticals (NASDAQ: RXRX), which describes itself as a "clinical stage TechBio company decoding biology to industrialize drug discovery."

The purchase on Monday boosted the firm's stake by 45% to 6,085,589 total shares.

ARK's stake in Recursion is worth about $40 million based on Monday's closing price and represents a 0.5% weighting in the ETF. The firm also owns shares of Recursion through the ARK Genomic Revolution ETF (CBOE: ARKG) ETF, although none were added on Monday.

By StreetInsider.com Staff

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