Comerica Bank Has $3.79 Million Position in Tempus AI, Inc. (NASDAQ:TEM)

Comerica Bank lifted its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 342.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,145 shares of the company's stock after buying an additional 86,800 shares during the period. Comerica Bank owned about 0.07% of Tempus AI worth $3,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TEM. Victory Capital Management Inc. acquired a new position in Tempus AI during the fourth quarter worth $216,000. China Universal Asset Management Co. Ltd. acquired a new position in Tempus AI in the fourth quarter worth $1,091,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Tempus AI during the fourth quarter worth $178,000. abrdn plc acquired a new stake in shares of Tempus AI in the fourth quarter valued at $2,784,000. Finally, Dakota Wealth Management raised its holdings in shares of Tempus AI by 189.7% in the fourth quarter. Dakota Wealth Management now owns 60,668 shares of the company's stock valued at $2,048,000 after buying an additional 39,724 shares during the last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

Tempus AI Stock Performance

NASDAQ:TEM traded down $3.88 during trading hours on Friday, hitting $61.34. The stock had a trading volume of 15,472,133 shares, compared to its average volume of 6,015,116. The business's 50 day moving average is $48.39 and its 200-day moving average is $50.97. Tempus AI, Inc. has a one year low of $22.89 and a one year high of $91.45. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on TEM shares. William Blair reissued a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a report on Wednesday. Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Bank of America increased their price objective on Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. downgraded Tempus AI from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

Insider Activity

In other Tempus AI news, Director Nadja West sold 809 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the sale, the director now owns 37,705 shares in the company, valued at approximately $1,927,102.55. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Erik Phelps sold 61,582 shares of Tempus AI stock in a transaction on 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 in the company, valued at $12,607,668.80. The trade was a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,237,561 shares of company stock worth $251,210,331 in the last 90 days. Corporate 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.