Cathie Wood Rotates Out of Iridium and Into This Biotech Stock — Here’s Why

TLDR

• ARK Invest sold 176,093 Iridium Communications shares worth $3.32 million after a 6.3% stock price increase on December 10
• Wood purchased 11,342 Nurix Therapeutics shares valued at $221,736 following positive blood cancer trial results
• ARK dumped 35,379 Adaptive Biotechnologies shares worth $525,731 and 4,166 Teradyne shares worth $833,075
• Wood reduced Ibotta holdings by 11,700 shares totaling $266,292 across multiple funds
• Portfolio moves show shift from communications and tech stocks toward biotech sector investments

Cathie Wood’s ARK Invest executed multiple trades on December 10, 2025, adjusting positions across several exchange-traded funds. The moves represent ongoing portfolio management as Wood reallocates capital between sectors.

The biggest sale involved Iridium Communications stock. ARK offloaded 176,093 shares of the satellite communications provider across three different ETFs. The shares were sold through ARK Innovation ETF, ARK Autonomous Technology & Robotics ETF, and ARK Space Exploration & Innovation ETF.

Iridium Communications Inc., IRDM

The Iridium sale totaled approximately $3.32 million. This came after the stock climbed 6.3% during the trading session. ARK has been consistently reducing its Iridium position over several consecutive trading days.

Wood also trimmed holdings in Teradyne. The ARK Autonomous Technology & Robotics ETF sold 4,166 shares of the test equipment manufacturer. This sale was worth $833,075.

Biotech Stock Sales Continue

ARK Genomic Revolution ETF sold 35,379 shares of Adaptive Biotechnologies on Wednesday. The diagnostics company saw its stock price rise 5.9% before ARK executed the sale. The transaction totaled $525,731 in value.

Wood continued reducing her position in Ibotta. ARK sold 11,700 shares of the mobile technology company across several ETFs. These combined sales amounted to $266,292.

Single Purchase Focuses on Biotech

ARK made one buy during Wednesday’s trading session. The fund purchased 11,342 shares of Nurix Therapeutics through ARK Genomic Revolution ETF. The purchase cost $221,736.

Nurix Therapeutics, Inc., NRIX

Nurix Therapeutics recently released Phase 1 clinical trial data. The company presented results for bexobrutideg, a drug being tested for blood cancer treatment. The data was shared at the American Society of Hematology Annual Meeting.

The drug targets Bruton’s tyrosine kinase. Nurix is developing it as a potential treatment option for patients with blood cancers. The positive trial results came just before ARK’s purchase.

Wood’s trading pattern shows deliberate position reductions. ARK has been selling Iridium, Adaptive Biotechnologies, and Ibotta shares over multiple days. This approach suggests gradual portfolio rebalancing rather than immediate exits.

The Wednesday trades spanned five ARK ETFs. Each fund maintains different investment focuses including innovation, robotics, space exploration, and genomics. The funds hold varying stock combinations based on their specific mandates.

ARK’s sales concentrated on communications and technology companies. The single purchase targeted the biotech sector. This trading activity reflects Wood’s current strategy of shifting capital allocation between different market segments.

The Iridium sale represents ARK’s largest transaction by dollar value on December 10. The Teradyne and Adaptive Biotechnologies sales were the second and third largest. All three exceeded half a million dollars each.

Wood manages multiple ARK ETFs with different investment themes. The Wednesday trades involved funds focused on disruptive innovation, autonomous technology, space exploration, and genomic revolution. Each fund operates according to its stated investment objective.

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