Balyasny Asset Management L.P. Increases Stock Holdings in Tempus AI, Inc. (NASDAQ:TEM)

Balyasny Asset Management L.P. lifted its position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 514.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,501 shares of the company's stock after buying an additional 34,751 shares during the period. Balyasny Asset Management L.P.'s holdings in Tempus AI were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEM. Bamco Inc. NY grew its position in Tempus AI by 72.9% during the 4th quarter. Bamco Inc. NY now owns 390,400 shares of the company's stock worth $13,180,000 after purchasing an additional 164,600 shares during the last quarter. Benjamin Edwards Inc. grew its position in Tempus AI by 180.8% during the 4th quarter. Benjamin Edwards Inc. now owns 35,988 shares of the company's stock worth $1,215,000 after purchasing an additional 23,173 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Tempus AI during the 4th quarter worth approximately $78,000. Ameriprise Financial Inc. purchased a new stake in Tempus AI during the 4th quarter worth approximately $8,789,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Tempus AI during the 4th quarter worth approximately $8,075,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Analyst Upgrades and Downgrades

TEM has been the topic of several recent research reports. Piper Sandler upped their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday. BTIG Research initiated coverage on shares of Tempus AI in a report on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective on the stock. TD Cowen reaffirmed a "buy" rating and issued a $74.00 price objective (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, Bank of America upped their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.75.

Tempus AI Stock Performance

NASDAQ TEM traded up $2.89 during mid-day trading on Friday, reaching $65.49. 9,694,334 shares of the stock were exchanged, compared to its average volume of 6,207,417. The business's 50 day moving average is $50.05 and its 200-day moving average is $51.67. Tempus AI, Inc. has a 1 year low of $22.89 and a 1 year high of $91.45. The company has a market capitalization of $11.28 billion and a P/E ratio of -8.40. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million for the quarter, compared to analysts' expectations of $248.13 million. Tempus AI's revenue was up 75.4% compared to the same quarter last year. On average, equities research analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew Polovin sold 13,135 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now directly owns 154,171 shares in the company, valued at $7,088,782.58. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Erik Phelps sold 61,582 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $82.36, for a total transaction of $5,071,893.52. Following the completion of the sale, the executive vice president now owns 153,080 shares of the company's stock, valued at $12,607,668.80. This trade represents a 28.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,065,231 shares of company stock worth $237,796,095. Company insiders own 27.60% of the company's stock.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.