Cathie Wood's ARK Investment Management adds to its stake in Tempus AI (TEM, Financial) after the stock tumbled nearly 14% on Monday, January 13 4:00 PM ET. The company announces preliminary fourth-quarter revenue projections that fall short of expectations, shaking investor confidence.
Tempus AI predicts $200 million in revenue for the quarter, missing analysts' estimates of $205.7 million. Even so, the number shows a 35% jump from the same period last year. CEO Eric Lefkofsky highlights strong growth in genomics revenue, up 30%, and data and services revenue, which climbs 45%. For the full year, revenue climbs 30% to approximately $693 million.ARK's Genomic Revolution ETF (ARKG, Financial) snaps up 379,000 shares during the sell-off, bringing its total holding in Tempus AI to over $47 million.
The position now accounts for 4.08% of the fund's portfolio. Other top names in the fund include Twist Bioscience (TWST, Financial), Recursion Pharmaceuticals (RXRX, Financial), and Crispr Therapeutics (CRSP, Financial).The purchase shows ARK's confidence in Tempus AI's potential as a leader in genomics and AI-driven healthcare innovation.
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