On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Tempus AI Inc (NASDAQ:TEM) and Advanced Micro Devices Inc (NASDAQ:AMD).
The Tempus AI Trade
ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (BATS:ARKK) funds made substantial purchases of Tempus AI Inc shares. The ARKG fund acquired 21,997 shares, while ARKK added 123,797 shares. With a closing price of $53.50, the total value of these transactions amounted to approximately $7.8 million.
Tempus AI recently reported a 36.1% increase in first-quarter revenue, driven by strong demand for its oncology diagnostics and AI-driven data business. Despite widening its net loss, the company raised its full-year revenue outlook.
The Nancy Pelosi-backed company’s quarterly revenue reached $348.1 million, surpassing analyst expectations of $345.5 million. The company’s diagnostics revenue rose …
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