Envestnet Asset Management Inc. Buys 26,998 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Envestnet Asset Management Inc. increased its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 157.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,119 shares of the company's stock after acquiring an additional 26,998 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Tempus AI were worth $1,489,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new position in Tempus AI in the fourth quarter valued at about $34,000. Prestige Wealth Management Group LLC raised its position in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after buying an additional 965 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock worth $55,000 after acquiring an additional 1,108 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Tempus AI during the 4th quarter worth approximately $67,000. Finally, IFP Advisors Inc bought a new position in Tempus AI in the fourth quarter valued at approximately $76,000. Institutional investors own 24.22% of the company's stock.

Insider Buying and Selling

In related news, EVP Erik Phelps sold 5,934 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $67.57, for a total transaction of $400,960.38. Following the transaction, the executive vice president now owns 214,662 shares in the company, valued at $14,504,711.34. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the transaction, the director now owns 26,514 shares in the company, valued at $1,207,447.56. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,505,134 shares of company stock valued at $268,609,285 over the last ninety days. 27.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TEM shares. Guggenheim reaffirmed a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a research report on Thursday, April 24th. Morgan Stanley increased their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Loop Capital decreased their price target on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, BTIG Research started coverage on shares of Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.08.

Tempus AI Price Performance

NASDAQ:TEM traded up $0.18 during trading hours on Thursday, hitting $51.85. 6,350,278 shares of the company were exchanged, compared to its average volume of 5,707,048. The company has a fifty day simple moving average of $48.50 and a 200 day simple moving average of $50.55. 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, Inc. has a one year low of $22.89 and a one year high of $91.45.

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.