6,800 Shares in Tempus AI, Inc. (NASDAQ:TEM) Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH purchased 6,800 shares of Tempus AI, Inc., valued at approximately $328,000, marking a significant investment in the company during the first quarter.
• Tempus AI's stock is currently down 3.0%, with a market cap of $9.50 billion and a recent earnings report showing an EPS of ($0.24), better than the consensus estimate.
• Equity analysts rate Tempus AI as a "Moderate Buy," with a consensus target price of $65.09, illustrating positive sentiment despite recent stock price fluctuations.

Allianz Asset Management GmbH acquired a new position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,800 shares of the company's stock, valued at approximately $328,000.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after buying an additional 1,651,996 shares during the last quarter. Norges Bank purchased a new stake in Tempus AI in the fourth quarter valued at about $34,681,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 31.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock valued at $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Mariner LLC purchased a new stake in Tempus AI in the fourth quarter valued at about $31,187,000. Finally, Frontier Capital Management Co. LLC raised its stake in Tempus AI by 236.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 943,718 shares of the company's stock valued at $31,860,000 after buying an additional 663,018 shares during the last quarter. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Tempus AI Stock Down 3.0%

Tempus AI stock opened at $54.89 on Monday. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of -7.04 and a beta of 4.98. Tempus AI, Inc. has a 52 week low of $31.36 and a 52 week high of $91.45. The business's 50-day moving average price is $62.47 and its 200 day moving average price is $57.61. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The firm's revenue for the quarter was up 75.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Activity

In related news, EVP Erik Phelps sold 51,317 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the sale, the executive vice president directly owned 97,779 shares of the company's stock, valued at $7,094,844.24. This trade represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore Leonsis sold 205,847 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total value of $13,927,608.02. Following the sale, the director directly owned 15,511 shares in the company, valued at approximately $1,049,474.26. This trade represents a 92.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 778,772 shares of company stock valued at $52,052,375 over the last 90 days. Company insiders own 27.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TEM shares. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a research note on Wednesday, May 7th. Guggenheim increased their price target on Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley raised their price objective on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. BTIG Research started coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Piper Sandler raised their price objective on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.09.

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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