12,442 Shares in Tempus AI, Inc. (NASDAQ:TEM) Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC purchased 12,442 shares of Tempus AI, Inc. during the first quarter, valued at approximately $600,000.
• Vanguard Group Inc. significantly increased its holdings by over 6,247% in the same period, acquiring an additional 5,900,668 shares, bringing its total to nearly 6 million shares valued at $289 million.
• Tempus AI reported a quarterly revenue of $314.64 million, exceeding analysts' estimates, with a negative net margin of 20.98% for the period.

Townsquare Capital LLC purchased a new position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,442 shares of the company's stock, valued at approximately $600,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Tempus AI by 6,247.5% during the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after buying an additional 5,900,668 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Tempus AI by 109.9% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 50,666 shares of the company's stock worth $2,444,000 after acquiring an additional 26,533 shares during the last quarter. Blair William & Co. IL increased its position in Tempus AI by 372.8% during the 1st quarter. Blair William & Co. IL now owns 32,334 shares of the company's stock worth $1,560,000 after purchasing an additional 25,495 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Tempus AI in the first quarter valued at approximately $63,000. Finally, PNC Financial Services Group Inc. raised its holdings in Tempus AI by 707.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company's stock valued at $228,000 after buying an additional 4,132 shares during the period. Hedge funds and other institutional investors own 24.22% of the company's stock.

Insider Buying and Selling

In related news, Director Jennifer A. Doudna sold 625 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $62.52, for a total value of $39,075.00. Following the completion of the sale, the director directly owned 26,554 shares of the company's stock, valued at $1,660,156.08. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ryan Fukushima sold 5,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief operating officer directly owned 145,000 shares in the company, valued at approximately $8,700,000. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 802,772 shares of company stock worth $54,080,775. 27.60% of the stock is currently owned by insiders.

Tempus AI Price Performance

Shares of NASDAQ TEM opened at $73.78 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 2.58. Tempus AI, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $91.45. The business has a 50 day moving average price of $63.13 and a two-hundred day moving average price of $58.63. The firm has a market cap of $12.77 billion, a PE ratio of -62.00 and a beta of 4.98.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. The business had revenue of $314.64 million during the quarter, compared to the consensus estimate of $296.84 million. Tempus AI had a negative net margin of 20.98% and a negative return on equity of 122.86%. The business's quarterly revenue was up 89.5% compared to the same quarter last year. During the same quarter last year, the company earned ($6.86) earnings per share. Sell-side analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TEM shares. Morgan Stanley boosted their price objective on shares of Tempus AI from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. BTIG Research initiated coverage on Tempus AI in a report on Friday, August 8th. They issued a "buy" rating and a $60.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research report on Friday, August 8th. Guggenheim boosted their price objective on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Tempus AI in a research report on Friday, August 8th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.36.

Tempus AI 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.

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