5 Stocks Cathie Wood Is Selling

In this article, we discuss the 5 stocks Cathie Wood is selling. If you want to read our detailed analysis of these stocks, go directly to the 10 Stocks Cathie Wood Is Selling.

5. Illumina, Inc. (NASDAQ: ILMN)

Number of Hedge Fund Holders: 52    

Illumina, Inc. (NASDAQ: ILMN) is a healthcare firm that provides genetic analysis. It is placed fifth on our list of 10 stocks Cathie Wood is selling. The stock has returned 27% to investors in the past twelve months. ARK Investment Management has sold off its entire stake in the healthcare firm during the first quarter of 2021. Despite the sale from such a profile investor, the firm managed to beat market expectations on revenue and earnings per share for the first three months of 2021. 

On June 4, Illumina, Inc. (NASDAQ: ILMN) stock jumped close to 4% after GRAIL, a cancer firm that has been purchased by Illumina for more than $7 billion, announced positive results from a new early cancer detection test. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in Illumina, Inc. (NASDAQ: ILMN) with 1.3 million shares worth more than $517 million. 

In its Q1 2021 investor letter, Bonsai Partners, an asset management firm, highlighted a few stocks and Illumina, Inc. (NASDAQ: ILMN) was one of them. Here is what the fund said:

“Illumina is the leading provider of genomic sequencing instruments and reagents. Illumina’s shares appreciated 3.8%.

Similar to last quarter, this quarter was relatively quiet for Illumina. The company positively preannounced earnings for the first quarter as catch-up demand for lab genomics was robust.

On the regulatory front, the Federal Trade Commission opposed Illumina’s acquisition of GRAIL, which is ironic considering it was once a part of Illumina before it spun out. I have no way of knowing whether the deal will go through.”