In this article, we discuss the 5 biggest losers in the portfolio of Cathie Wood’s ARK. If you want to read our detailed analysis of these stocks, go directly to Cathie Wood’s ARK Portfolio: Top 15 Losers.
5. Invitae Corporation (NYSE:NVTA)
Number of Hedge Fund Holders: 24
52-Week High: $61.59
Real-Time Share Price as of December 7: $17.29
Percentage Loss in Share Price Year-to-Date: 60.38%
Invitae Corporation (NYSE:NVTA) is a medical genetics firm. At the end of the third quarter of 2021, ARK Investment Management owned 21 million shares in Invitae Corporation (NYSE:NVTA) worth $721 million, representing 1.34% of the portfolio.
On November 9, Invitae Corporation (NYSE:NVTA) announced that it had received a subpoena from the US Department of Justice regarding sponsored testing programs. The company said it was cooperating with the investigation.
At the end of the third quarter of 2021, 24 hedge funds in the database of Insider Monkey held stakes worth $1.8 billion in Invitae Corporation (NYSE:NVTA), down from 31 in the preceding quarter worth $2.1 billion.
4. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)
Number of Hedge Fund Holders: 33
52-Week High: $54.21
Real-Time Share Price as of December 7: $19.02
Percentage Loss in Share Price Year-to-Date: 58.77%
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a clinical-stage biotech firm focusing on developing therapies for cancer patients. ARK Investment Management owned 18 million shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) at the end of September 2021 worth $480 million, representing 0.89% of the portfolio of the fund.
Oppenheimer analyst Mark Breidenbach recently lowered the price target on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stock to $31 from $38 but kept an Outperform rating, noting concerns around response rate and durability in non-small cell cancer.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Perceptive Advisors is a leading shareholder in Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) with 11.4 million shares worth more than $283 million.
3. Proto Labs, Inc. (NYSE:PRLB)
Number of Hedge Fund Holders: 17
52-Week High: $286.57
Real-Time Share Price as of December 7: $52.56
Percentage Loss in Share Price Year-to-Date: 65.01%
Proto Labs, Inc. (NYSE:PRLB) is a digital manufacturer of custom prototypes. The hedge fund of Cathie Wood owned 3 million shares of Proto Labs, Inc. (NYSE:PRLB) at the end of the third quarter of 2021 worth more than $278 million, representing 0.51% of the total portfolio.
Proto Labs, Inc. (NYSE:PRLB) has a market cap of $1.35 billion and posted $434 million in revenue last year. The short interest on the stock has reached close to 10% and the firm recently missed market estimates on earnings for the third quarter.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Two Sigma Advisors is a leading shareholder in Proto Labs, Inc. (NYSE:PRLB) with 294,200 shares worth more than $19 million.
In its Q1 2021 investor letter, Harding Loevner, an asset management firm, highlighted a few stocks and Proto Labs, Inc. (NYSE:PRLB) was one of them. Here is what the fund said:
“Shares of Protolabs, a provider of 3D printing and other rapid prototyping and mold machining services for manufacturing, extended their strong performance from last year and soared early in January after the company announced its intention to acquire another on-demand digital manufacturing platform. We took advantage of their runup to sell our position.”
2. KE Holdings Inc. (NYSE:BEKE)
Number of Hedge Fund Holders: 26
52-Week High: $78.00
Real-Time Share Price as of December 7: $20.85
Percentage Loss in Share Price Year-to-Date: 63.75%
KE Holdings Inc. (NYSE:BEKE) provides electronics manufacturing services. According to regulatory filings, ARK Investment Management owned 5.8 million shares in KE Holdings Inc. (NYSE:BEKE) at the end of September 2021 worth $276 million, representing 0.51% of the portfolio.
KE Holdings Inc. (NYSE:BEKE) recently posted earnings for the third quarter, reporting earnings per share of -$0.12, missing market predictions by $0.08. The revenue over the period was $2.8 billion, down close to 12% year-on-year.
Among the hedge funds being tracked by Insider Monkey, California-based investment firm Tybourne Capital Management is a leading shareholder in KE Holdings Inc. (NYSE:BEKE) with 16 million shares worth more than $299 million.
1. Berkeley Lights, Inc. (NASDAQ:BLI)
Number of Hedge Fund Holders: 18
52-Week High: $113.53
Real-Time Share Price as of December 7: $21.42
Percentage Loss in Share Price Year-to-Date: 74.47%
Berkeley Lights, Inc. (NASDAQ:BLI) is a digital cell biology company. Latest data shows that ARK Investment Management owned 6.9 million shares of Berkeley Lights, Inc. (NASDAQ:BLI) at the end of the third quarter of 2021 worth $309 million, representing 0.57% of the portfolio.
Morgan Stanley analyst Tejas Savant recently lowered the price target on Berkeley Lights, Inc. (NASDAQ:BLI) stock to $36 from $66 and kept an Equal Weight rating on the shares, noting that lowered guidance in the earnings report was “no surprise” given management commentary.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Two Sigma Advisors is a leading shareholder in Berkeley Lights, Inc. (NASDAQ:BLI) with 1.1 million shares worth more than $23 million.
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