Small-Cap Highlights: Cathie Wood's Investments, the Sale of Forte Biosciences, and the CBIZ Deal
Cathie Wood's ARK Genomic Revolution Fund purchased shares in the small biotech company Scribe Therapeutics in July / Photo: Facebook / ARK Invest
The consulting firm Grant Thornton Advisors plans to acquire CBIZ, a mid-cap competitor—the deal could be the largest in the industry in a quarter-century. Fintech company PSQ Holdings, whose shareholders include Donald Trump Jr., is selling the children’s products brand EveryLife. ARK Genomic, the fund led by Cathie Wood that invests in the “genomic revolution,” has purchased shares in Scribe Therapeutics, a biotech company developing treatments for heart disease. The week’s top stories from July 27–31 are featured in the Oninvest digest.
Grant Thornton to Acquire Mid-Cap Rival CBIZ
CBIZ, a mid-cap company providing accounting and consulting services, announced that it will be acquired at a premium to the market price by Grant Thornton Advisors, a privately held consulting firm. If the deal goes through, it will be the largest in the industry in 25 years. On July 29, the day the deal was announced, CBIZ shares rose nearly 18%—reaching their highest level since the beginning of 2026.
Grant Thornton, together with its affiliates, will pay $55 per share, which represents a premium of approximately 54% over the 30-day weighted average share price, according to CBIZ. The parties plan to complete all procedures in the fourth quarter of 2026, following approval by shareholders and regulators. Afterward, CBIZ will go private and delist from the New York Stock Exchange.
If the deal goes through, Grant Thornton will become the fifth-largest player in the U.S. professional, tax, and advisory services market, with revenue exceeding $5 billion. Since the start of the year, CBIZ’s stock price has risen by 9.5%. The company’s stock has three “buy” ratings from Wall Street analysts. The average price target is $50, about 9% above the current price.
A company with Trump's investment saw its stock price rise 20%—it sold its diaper brand
Micro-cap fintech company PSQ Holdings, whose shareholders include U.S. President Donald Trump’s son, Donald Trump Jr., announced the sale of part of its business. On July 28, following the announcement of the deal, the stock price rose by 20%.
PSQ Holdings announced that its diaper and baby products brand, EveryLife, will be acquired by FreeHold Brands, a company that develops designs and manages third-party brands. EveryLife’s valuation for the deal is $5.5 million before fees, while PSQ Holdings’ total market capitalization is nearly $14 million. PSQ Holdings is selling assets to focus on its fintech division.
The company's shares are currently trading at 73% below their price at the beginning of 2026. One analyst recommends buying them, with a price target suggesting the shares could rise to about three times their current value.
Cathie Wood's fund bought shares in biotech company Scribe
ARK Genomic, the fund led by Cathie Wood and known for its investments in the “genomic revolution, ” has added shares of Scribe Therapeutics to its portfolio. Scribe Therapeutics develops treatments for cardiovascular diseases using genome-editing technologies. Scribe, backed by Nobel Prize winner Jennifer Dowden and pharmaceutical giants Eli Lilly and Sanofi, held its IPO on the Nasdaq on July 24. On its first day of trading, its stock price soared by more than 44%.
The fund acquired shares in Scribe Therapeutics on the same day, July 24, according to Investing.com. According to ARK Genomic, the fund holds 352,970 shares of the company, valued at $7.2 million.
Scribe is exploring the potential of gene editing to treat cardiovascular and metabolic diseases that affect millions of people. The company’s lead drug, STX-1150, “silences” certain genes, blocking the production of bad cholesterol. According to Bloomberg, the drug is currently in the early stages of clinical trials, with initial data expected in 2027.
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Forte Biosciences Shares Rise 40% — A Competitor Is Buying the Company
Forte Biosciences, a small-cap developer of treatments for vitiligo and celiac disease, announced that Dutch biotech company argenx plans to acquire it at a premium to the market price. On July 27, following the announcement of the deal, the company’s stock soared by nearly 40%. To complete the transaction, a subsidiary of argenx will launch a tender offer to buy all of Forte’s shares at $77, valuing the company’s equity at approximately $2.2 billion. To close the deal, argenx will need to acquire the majority of Forte’s shares through the tender offer and obtain regulatory approval.
Forte Biosciences is developing FB102—an artificial analog of immune cells designed to combat a specific disease—and is currently testing it in patients with three conditions: alopecia, celiac disease, and vitiligo.
Since the beginning of the year, the company’s stock price has risen by 182%, and over the past 12 months, by 700%. In particular, they have risen 275% since July 8—following the company’s announcement regarding the efficacy of its drug in Phase 1 clinical trials in patients with vitiligo. The company’s stock has four “Hold” ratings and one “Buy” rating, according to MarketWatch. The average target price set by analysts is 3.5% below the current share price.
