Cathie Wood Increases Investment in Biotech While Reducing Holdings in Tech Stocks Like Shopify and Palantir (PLTR)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2025
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Source: TipRanks
ARK Invest's Portfolio Moves: On October 28, 2025, ARK Invest revealed significant trades, including major purchases of DraftKings, Intellia Therapeutics, and 10x Genomics, indicating a strong belief in biotech and growth stocks.
DraftKings Acquisition: ARK bought 499,483 shares of DraftKings for $16.46 million, reflecting confidence in the sports betting sector as more states legalize online wagering.
Intellia Therapeutics Investment: The firm acquired 479,411 shares of Intellia Therapeutics valued at $7.09 million, signaling a bullish outlook on the gene-editing company.
Technology Sector Divestments: ARK sold shares in Shopify, Palantir, and other tech firms, adjusting its portfolio in response to market volatility, with total sales ranging from $896,000 to $10.69 million.
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Analyst Views on DKNG
Wall Street analysts forecast DKNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DKNG is 43.76 USD with a low forecast of 30.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
23 Buy
7 Hold
0 Sell
Strong Buy
Current: 29.940
Low
30.00
Averages
43.76
High
63.00
Current: 29.940
Low
30.00
Averages
43.76
High
63.00
About DKNG
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with online and retail sports betting (together, Sportsbook), online casino (iGaming) and daily fantasy sports product offerings, as well as digital lottery courier, media, and other product offerings. Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. It operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. It owns Jackpocket, a digital lottery courier app in the United States. It is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA. It also owns and operates DraftKings Network, a multi-platform content ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
U.S. Super Bowl Betting Volume Forecasted at $1.75B
- Volume Growth: U.S. Super Bowl 60 is projected to see $1.75 billion in legal betting volume, reflecting over a 10% increase from last year, primarily driven by Missouri's recent legalization, indicating strong market recovery potential.
- Matchup Appeal: The rematch between the Seattle Seahawks and New England Patriots is expected to draw significant betting interest, particularly due to the strong fan bases of both teams, which will further enhance market activity.
- Prediction Market Expansion: Although the Super Bowl will take place in California, where sports betting remains illegal, the growth of prediction market platforms offers bettors more ways to participate, increasing market diversity and attractiveness.
- Market Opportunity: Analysts highlight that Missouri's legalization provides a crucial growth opportunity for the regulated sports betting market, making Super Bowl weekend the single largest betting opportunity of the year, further solidifying record levels in the U.S. market.
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DraftKings Shares Decline as Price Target Cut by Guggenheim
- Price Target Reduction: Guggenheim has lowered its price target for DraftKings from $45 to $42 while maintaining a Buy rating, indicating concerns about the company's future profitability which may lead to decreased investor confidence.
- Regulatory Policy Shift: The CFTC's announcement to draft 'clear rules' and withdraw proposals banning sports and politics-related contracts could significantly impact how DraftKings and its competitors operate, potentially increasing market competition.
- Intensified Market Competition: Robinhood has processed over 11 billion contracts and generates approximately $100 million in annual revenue from prediction markets, with its low pricing strategy posing a threat to DraftKings' market share, especially in high-margin contract categories.
- Technical Analysis Indicates Weakness: DraftKings is currently trading 17.3% below its 20-day simple moving average and 20.9% below its 100-day moving average, indicating a bearish trend and reflecting market pessimism regarding its future performance.
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