Tesla Inc (NASDAQ:TSLA) bull Cathie Wood led Ark Investment Management on Thursday further raised its exposure in China-based biotech company Burning Rock Biotech Ltd (NASDAQ:BNR).
The investment firm bought 112,150 shares — estimated to be worth $1.08 million — in the biotech company, a stock it has been piling up on since November last year.
The St. Petersburg, Florida-based investment firm held 2.79 million shares — worth $26.7 million — in the biotech company, prior to Thursday’s trade.
Ark Invest holds shares in the biotech company via the Ark Genomic Revolution ETF (BATS:ARKG).
Burning Rock Biotech focuses on providing individualized cancer treatment guidance for patients.
Ark Invest has large bets in Tesla, a stock it expects will touch the $3,000 mark by 2025.
The investment firm also bought shares in Adaptive Biotechnologies Corp (NASDAQ:ADPT) on Thursday.
