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ARTRYA Ltd ASX:AYA

Gold Mining Logistics Software Medical Devices Mining Services

1 opened or increased4 held1 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 6 managers in total.

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2026

28 Feb 2025 to today

Commentary Showing 2 of 25

DateManagerActionSummary

31 Jul 2026Pengana Capital GroupHeldPengana Capital Group continues to hold Artrya because the manager sees a clear operational fix behind a disappointing quarter rather than a broken thesis. The Australian cardiac CT AI company fell 34% after its first quarter of expected material revenue missed forecasts due to delays automating cardiologists' insurer-approval workflows, a bottleneck Artrya has now resolved. Pengana expects benefits to materialise this quarter as three contracted hospital groups performing roughly 25,000 scans annually go live, with a new SAPPHIRE registry and additional software modules offering further revenue upside, supporting the case that Artrya's roughly A$780 million valuation understates its addressable opportunity.

Medical DevicesMonthly Report

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31 Jul 2026Wilson Asset ManagementHeldWilson Asset Management — WAM Research continues to hold Artrya despite a share price decline during the month, which it attributes to an overreaction to the pace of revenue conversion from customer deployments, a concern management has since clarified, along with broader negative sentiment toward AI-related growth companies and profit-taking on winning positions. The manager highlights continued progress in the medical technology company's US commercial rollout, including revenue generation beginning from its second active US commercial customer and deployment of its Salix platform within a major US healthcare network. WAM Research believes the company is building a strong pipeline of further potential customers while progressing FDA approval of its second blood flow module, with both developments, along with potential S&P/ASX 300 Index inclusion, seen as key near-term catalysts.

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23 more comments on AYAPro shows every comment, with a link to each source document.

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Articles

About ARTRYA Ltd

Healthcare, Health Care Technology

Artrya (ASX:AYA), a cardiac AI company, has become a high-conviction holding for several fund managers. In July 2026, Wilson Asset Management said it really likes Artrya, which is building a diagnostic platform that analyses plaque in coronary arteries using AI to assist clinicians. Regal named Artrya the standout surprise in its portfolio, tackling heart disease, the world's biggest killer, while Paradice said Artrya has been an exceptional contributor, trimming into strength. Pengana reported a 34% fall in July after a 23% rise the prior month. Artrya operates in the Healthcare sector within the Health Care Technology industry, and Thesis Tracker has captured 25 comments from 6 fund managers, including Wilson, Regal, Paradice and Pengana. Founded in 2018 and headquartered in West Perth, Artrya develops Salix, an AI platform for coronary artery disease detection, plaque analysis and risk assessment from CT scans, with FDA clearances and US hospital contracts.

Market cap: $786m
Price to earnings: Loss-making
Return on equity: -50.6%
Dividend yield: 0.0%
Price to book: 10.23x
Net margin: -89939.3%

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in ARTRYA Ltd (ASX:AYA)?

Fund managers including Pengana Capital Group, SG Hiscock & Company, Wilson Asset Management, Paradice Investment Management, Regal Funds Management and First Samuel have invested in ARTRYA Ltd (ASX:AYA).

What opportunities or catalysts do fund managers highlight for ARTRYA Ltd?

Managers highlight Artrya's AI coronary plaque analysis platform, FDA clearances, US hospital adoption and a large addressable market in cardiac diagnostics, according to Wilson, Regal and Paradice.

What are the key risks to the ARTRYA Ltd investment thesis, according to fund managers?

Pengana notes extreme volatility, including a 34% fall in July, and Paradice trimmed after strong gains, suggesting valuation risk.

What does ARTRYA Ltd (ASX:AYA) do?

Artrya Limited (AYA) develops and commercialises a patented artificial intelligence platform for coronary artery disease. The company focuses on AI-powered detection, diagnosis, and support for addressing coronary artery disease, providing technology for investors reviewing company and fund manager commentary.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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