5 Small-Cap Growth Stocks in Cathie Wood’s Portfolio

3. Invitae Corporation (NYSE:NVTA)

Percentage of ARK Investment Management’s 13F Portfolio: 0.92%

ARK Investment Management’s Stake Value: $220.6 million

Number of Hedge Fund Holders: 29

Market Capitalization: $582.39 million

Invitae Corporation (NYSE:NVTA) is a biotechnology company that was created as a subsidiary of Genomic Health in 2010 and then spun-off in 2012. The company provides gene sequencing and deletion/duplication analysis for disorders in various medical specialties. Latest data shows that ARK Investment Management owned close to 27 million shares of Invitae Corporation (NYSE:NVTA) at the end of March 2022 worth $220.6 million, representing 0.92% of the total portfolio.

On June 13, Benchmark analyst Bruce Jackson lowered the price target on Invitae Corporation (NYSE:NVTA) to $6 from $13 and maintained a Buy rating on the shares after lowering his 2022 revenue forecast to $601 million from $640 million and adjusting his non-cash expense estimates while also lowering the multiple to one that is consistent with the comp group.

At the end of the first quarter of 2022, 29 hedge funds in the database of Insider Monkey held stakes worth $545 million in Invitae Corporation (NYSE:NVTA), compared to 24 in the preceding quarter worth $958 million. Eli Casdin’s Casdin Capital is one of the firm’s leading shareholders, holding over 12.2 million shares in the biotechnology company.