Ark Invest founder and CEO Cathie Wood added to her funds' existing positions in Meta Platforms, Airbnb and Beam Therapeutics on Monday, disclosing the trades at the end of the trading day. Meta Platforms, parent of Facebook, Instagram and WhatsApp, jumped 11% on Monday, its biggest single-day gain in more than a year, and Wells Fargo raised its price target on the stock from $640 to $796 ahead of Meta Connect on Wednesday and Thursday. Airbnb is on track for its sixth consecutive year of double-digit revenue growth, though its shares remain 24% below the all-time highs reached in early 2021 shortly after its IPO. Beam Therapeutics fell 10% on Sept. 9 and nearly 20% over three trading days after updated Phase 1/2 data for its BEAM-302 candidate, a gene-editing treatment for alpha-1 antitrypsin deficiency, showed encouraging efficacy but less numerical improvement than investors expected; the U.S. Food and Drug Administration feedback has Beam pursuing an accelerated approval pathway. Beam shares are down 9% year-to-date.
Airbnb Inc
Beam Therapeutics Inc
Meta Platforms Inc.
NVIDIA Corporation
Wells Fargo & Company