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

1. Pacific Biosciences of California (NASDAQ:PACB)

Percentage of ARK Investment Management’s 13F Portfolio: 1.03%

ARK Investment Management’s Stake Value: $248 million

Number of Hedge Fund Holders: 22

Market Capitalization: $1 billion

Pacific Biosciences of California (NASDAQ:PACB) is an American biotechnology company founded in 2004 that develops and manufactures systems for gene sequencing and some novel real time biological observation. Its products include analytical software, single molecule real-time (SMRT) compatible products, and PacBio Systems that are used to analyze biochemical sequencing reactions.

Earlier this May, Cantor Fitzgerald analyst Ross Osborn lowered the price target on Pacific Biosciences of California (NASDAQ:PACB) to $19 from $23 and maintained an Overweight rating on the shares following the quarterly results. Given the company’s “superior” long-read offering, strong cash balance and product pipeline that significantly expands the company’s TAM, Osborn encourages investors to take advantage of the firm’s attractive valuation and acquire shares.

22 hedge funds were long Pacific Biosciences of California (NASDAQ:PACB) at the end of the first quarter of 2022, with combined stakes worth $481.5 million. In contrast, 21 hedge funds held positions in the company a quarter ago. Julius Baker and Felix Baker’s Baker Bros. Advisors was among the largest shareholders of Pacific Biosciences of California (NASDAQ:PACB) in the first quarter with a stake worth approximately $49.54 million.

DEVON Equity Management, an investment firm, highlighted a few stocks in its Q2 2021 investor letter, and Pacific Biosciences of California (NASDAQ:PACB) featured among them. The fund said:

“As a final word on Sequencing – we established a position in Pacific Biosciences (PACB US) during the quarter. Pac Bio are the leader in Long Read Sequencing (Illumina are dominant in Short Read). The Long Read market is far less developed than short read, but our continued research into the genomic sequencing field increased our confidence in the commercial viability for Long Read Sequencing in the coming years. We will discuss the investment case for Pac Bio in more detail in a future letter.”

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