As noted by Wall Street experts, analysts looked for the Ark Invest-owned equities that have the highest probability of bouncing back after their recent declines.
The stocks listed are all holdings in one of Ark’s core ETFs. Furthermore, Wall Street expects these stocks to rise more than 20% in the next year, based on analysts’ average 12-month price target.
Finally, the listed stocks have a buy rating from more than 80% of analysts, with a minimum of five analysts covering the equity.
Syros Pharmaceuticals and Compugen are two of ARK Invest’s well-known names on Wall Street. Analysts unanimously recommend both stocks as a buy.
Analysts predict that Syros Pharmaceuticals will rise nearly 230 percent in the next year, while Compugen will rise more than 190 percent.
“We are buyers on recent weakness because Syros is trading at a current enterprise value of $142 million with a Phase III MDS asset and a rich pipeline,” said Piper Sandler analyst Edward Tenthoff of the gene control therapy company. In 2021, the stock’s value dropped by more than 53%.
Compugen is down roughly 40% this year, but Stifel told clients that the cancer immunology company “commands significant scarcity value, in our opinion – particularly given confirmation of COM701-mediated efficacy as a single-agent (important for any immunotherapy target) and in combination with PD-1 inhibition in heavily pre-treated patients across a historically challenging spectrum.”
ARK Genomic Revolution purchased 36,907 shares of Codexis, a stock on analysts’s list, for approximately $728,500, based on the stock’s closing price of $19.74 per share on Tuesday.
The analysts’s list also included Surface Oncology, Berkeley Lights, Personalis, 1Life Healthcare, Silvergate Capital, and Twilio.
Amazon is also on the list of stocks that are expected to recover. Amazon shares have been trading near the year’s lows, but following the company’s blowout earnings in which sales increased 44 percent, analysts expect it to rise more than 30 percent in the next 12 months.
On Tuesday, ARK Genomic Revolution also purchased 8,755 shares of Repare Therapeutics. Based on Repare’s closing price of $32.45 per share, the purchase was worth approximately $284,000 dollars.
Teledyne Technologies, Castle Biosciences, Ping An Healthcare and Technology, Niu Technologies, Guardant Health and Accolade also earned spots on analysts’ list.
Wood rose to prominence after ARK Innovation returned nearly 150 percent in 2020. According to FactSet, her funds have received more than $15 billion in fund flows in the last year.
Guggenheim stock (NYSE: GOF)
Minerd expects a 10% decline in the market as a whole, however he thinks the S&P 500 will go up in the long run.
As investors look for assets to guard against inflation, the firm’s global chief investment officer is still optimistic on gold and silver.
Minerd, whose firm manages $315 billion in assets, also sees gold and silver spiking as cryptocurrencies remain volatile.
“As money leaves crypto and people are still looking for inflation hedges, gold and silver are going to be better places to go,” Minerd said.
While it will take some time for momentum to build in gold given the size of the market, gold will eventually move into an “exponential phase,” according to Minerd.
“Five-thousand to $10,000 an ounce for gold, ultimately, is in the cards,” Minerd said.
Gold futures were trading around $1,899 per ounce Tuesday.
Minerd believes silver will follow as the “high-beta version of gold,” and predicts the metal will have a larger move on a percentage basis.
“Having a fairly significant allocation of [silver] and the gold miners — GDX — would make a lot of sense right now,” Minerd said.