Cathie Wood Is Selling These 5 Stocks

In this article, we discuss the 5 stocks which Cathie Wood is selling. If you want our detailed analysis of these stocks, go directly to Cathie Wood Is Selling These 13 Stocks. 

5. NetApp, Inc. (NASDAQ:NTAP)

Cathie Wood’s hedge fund bought a new stake in Cloud data services company Netapp in the fourth quarter of 2021. However, during the third quarter of this year, the hedge fund sold its stake in the company. The stake was valued at $148,000. The stock fell in September after investment firm Susquehanna downgraded it citing lack of catalysts. The firm’s analyst Mehdi Hosseini downgraded the stock to Neutral, and said that the sector will “continue to underperform into 2023 because there is no visibility/catalyst on the timing and pace of a recover.”

As of the end of the second quarter of 2022, 36 hedge funds tracked by Insider Monkey had stakes in the company, compared to 37 funds in the previous quarter.

4. RedHill Biopharma Ltd. (NASDAQ:RDHL)

Like other small high-growth companies that strong fundamentals, RedHill was also butchered in 2022, losing about 80% of its value in the year so far. Cathie Wood had a $1.2 million stake in the company at the end of June. However, this stake was sold during the September quarter. The company recently said that the U.S. Patent and Trademark Office (USPTO) granted a new method to use patents which protects the administration of its oral antiviral drug opaganib for certain patients with COVID-19.

Just 3 hedge  funds tracked by Insider Monkey reported owning stakes in the company at the end of June. A notable of these funds was billionaire Izzy Englander’s Millennium Management which had a $348,000 stake in the company.

3. Conformis, Inc. (NASDAQ:CFMS)

ConforMIS is a medical device company that sells personalized knee replacement products, including iUni, iDuo, a custom-made partial knee replacement options. At the end of the June quarter, Cathie Wood’s hedge fund had owned around 13 million shares of the company. The total worth of these shares was $5.5 million. However, this stake was sold during the third quarter.

In September, ConforMIS stock jumped after the company received 510(k) clearance from the U.S. Food and Drug Administration for its Actera hip system. The device uses an advanced tri-taper femur stem design to facilitate a minimally invasive approach similar to direct anterior approach.

A total of 9 hedge funds tracked by Insider Monkey had stakes in the company as of the end of the second quarter.

2. Gamida Cell Ltd. (NASDAQ:GMDA)

Gamida Cell is an Israel-based clinical-stage biopharmaceutical company that develops cell therapies to cure blood cancers and serious hematologic diseases. Cathie Wood had owned a stake worth about $1.6 million in the company as of the end of the second quarter. This stake was sold during the third quarter.

In September, Gamida Cell Ltd. (NASDAQ:GMDA) revealed that its stem cell therapy candidate omidubicel led to clinical benefit at three years in a group of patients with blood cancer who typically have a poor prognosis.

As of the end of the second quarter, 5 hedge funds tracked by Insider Monkey had stakes in the company, compared to 9 funds in the previous quarter. Kris Jenner, Gordon Bussard and Graham Mcphail’s Rock Springs Capital Management was the biggest stakeholder of the company at the end of June with a $3.9 million stake.

1. Shapeways Holdings, Inc. (NYSE:SHPW)

Sharepways is a 3D printing company in which Cathie Wood had a $4.4 million stake as of the end of the second quarter. However, the investor sold this stake in the third quarter. Of the 895 funds tracked by Insider Monkey, 7 funds had a stake in the company as of the end of the June quarter. In August, Shapeways (NYSE:SHPW) received a formal notice from NYSE on August 17, 2022 indicating that the company was not in compliance with listing standards.

You can also take a look at 10 Most Undervalued Stocks To Buy and Stocks On the Rise.

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