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EchoIQ Ltd ASX:EIQ

1 opened or increased3 held1 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 1 reduced. 5 managers in total.

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20252026

30 Sep 2024 to today

Commentary Showing 2 of 13

DateManagerActionSummary

30 Sep 2026Wilson Asset ManagementHeldWilson Asset Management continues to hold Echo IQ (ASX:EIQ) in WAM Microcap despite a share price decline in September 2026 after the US Food and Drug Administration declined clearance for EchoSolv HF, its AI-based clinical decision-support software for identifying heart failure from echocardiograms. Wilson Asset Management notes the FDA issued a Not Substantially Equivalent determination on the initial application, delaying US commercialisation. Management said the FDA's feedback related to statistical analysis rather than the underlying technology, though the outcome created uncertainty over clearance and commercialisation timing. The company has outlined multiple pathways to progress the application and remains confident of ultimately achieving FDA clearance.

Regulatory RiskMonthly Report, price recorded $0.60

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30 Sep 2026Cadence CapitalInitiatedCadence Capital initiated a position in EchoIQ (ASX:EIQ), re-entering the stock after trading it successfully earlier in 2026. Cadence notes EchoIQ specialises in artificial intelligence solutions for cardiovascular diagnostics. The position was entered ahead of an expected US Food and Drug Administration approval, which was not granted in the first instance and made EchoIQ one of the fund's detractors for the quarter. Cadence notes a meeting with the FDA in connection with the company's appeal is expected within the next 30 days.

Monthly Report, price recorded $0.60

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11 more comments on EIQPro shows every comment, with a link to each source document.

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Price at first mentionThe share price recorded when each of 5 managers first commented on EIQ.

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Articles

30 Sep 2026EchoIQ Rallied 150%+ on FDA Approval and a Validating Pro Medicus Deal

About EchoIQ Ltd

Healthcare, Software

EchoIQ (ASX:EIQ), an AI cardiac diagnostics company, has polarised fund managers after an extraordinary share price surge. In September 2026, Plato Investment Management disclosed that EchoIQ was its largest short position after the shares rose more than 870%. In contrast, NAOS described its technology as genuinely effective at improving cardiology decision-making, citing a data advantage and deployment at Mount Sinai, and Wilson Asset Management made it its second-largest holding after Pro Medicus provided financial and operational backing. EchoIQ operates in the Information Technology sector within the Software industry, and Thesis Tracker has captured 10 comments from 4 fund managers, including Plato, NAOS, Wilson Asset Management and SG Hiscock. Founded in 2010 and based in Sydney, EchoIQ develops artificial intelligence software that analyses echocardiograms to detect heart conditions such as aortic stenosis and heart failure, built on one of the world's largest echocardiogram databases.

Market cap: $319m
Price to earnings: Loss-making
Return on equity: -115.2%
Dividend yield: 0.0%
Price to book: 52.53x
Net margin: -17277.2%
52-week range: $0.18 to $1.88

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

Questions

Who is investing in EchoIQ Ltd (ASX:EIQ)?

Fund managers including Cadence Capital, Wilson Asset Management, NAOS Asset Management, SG Hiscock & Company and Plato Investment Management have invested in EchoIQ Ltd (ASX:EIQ).

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

Wilson Asset Management and NAOS highlight FDA approval for its heart failure software, a database of more than 20 million echocardiogram records, deployment at Mount Sinai, a research collaboration with Mayo Clinic and backing from Pro Medicus to accelerate commercialisation.

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

Plato Investment Management held EchoIQ as its largest short position, betting the shares would fall after an 872% rally, highlighting valuation and speculation risk. Commercial adoption and revenue growth still need to justify the market value.

What does EchoIQ Ltd (ASX:EIQ) do?

EchoIQ Ltd. is a Sydney-based company founded in 2010 by Richard Charles Anstey. It operates via two primary segments: Echo IQ and Houston WeHave Software. The Echo IQ division develops artificial intelligence software for cardiac diagnostics, specifically focused on predicting Aortic Stenosis. The Houston WeHave Software division provides products and services to the defence and additional sectors. The company also supplies software solutions tailored for the health fund and insurance industries, leveraging its technology platforms to support diagnostic and operational requirements across diverse professional sectors.

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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