Cathie Wood is Buying These 5 Stocks

3. Fate Therapeutics, Inc. (NASDAQ:FATE)

ARK Investment Management’s Stake Value: $646,177,000

ARK Investment Management’s 13F Portfolio: 1.55%

Number of Hedge Fund Holders: 40

Fate Therapeutics, Inc. (NASDAQ:FATE) is another stock that Cathie Wood is buying in the third quarter, adding a 46% stake in the stock. The biopharmaceutical stock represents 1.55% of ARK Investment Management’s portfolio. At the end of the September quarter, the fund owned over 10.9 million shares of the biopharma stock worth $646 million. 

The California-based biotech firm develops a portfolio of cancer immunotherapies. On November 8, Fate Therapeutics, Inc. (NASDAQ:FATE) was upgraded to Buy from Neutral rating by Citi analyst Yigal Nochomovitz. The analyst set a price target of $87 for the stock.

At the end of the second quarter of 2021, 40 hedge funds in the database of Insider Monkey held stakes worth $2.77 billion in Fate Therapeutics, Inc. (NASDAQ:FATE), compared to 39 in the previous quarter worth $2.63 billion.