Virtu Financial LLC Takes Position in Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• Virtu Financial LLC acquired 83,526 shares of Tempus AI, Inc. valued at approximately $4,029,000 in the first quarter, marking a significant investment in the company.
• Other institutional investors like Vanguard Group and ARK Investment Management have also increased their holdings, with Vanguard raising its stake by 6,247.5% to nearly $289 million.
• Tempus AI reported a quarterly revenue increase of 89.5% year-over-year, with earnings slightly exceeding analysts' estimates, despite maintaining a negative net margin.

Virtu Financial LLC bought a new stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 83,526 shares of the company's stock, valued at approximately $4,029,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Operose Advisors LLC acquired a new position in shares of Tempus AI during the fourth quarter valued at $25,000. Cherry Tree Wealth Management LLC acquired a new position in shares of Tempus AI during the first quarter valued at $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Tempus AI during the first quarter valued at $33,000. Continuum Advisory LLC acquired a new position in shares of Tempus AI during the first quarter valued at $39,000. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of Tempus AI by 100.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock valued at $39,000 after purchasing an additional 400 shares during the period. 24.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TEM has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Piper Sandler reissued a "neutral" rating on shares of Tempus AI in a report on Friday. Bank of America lifted their target price on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 target price on shares of Tempus AI in a report on Friday. Finally, BTIG Research initiated coverage on Tempus AI in a report on Friday. They set a "buy" rating and a $60.00 target price on the stock. Six equities research 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 company currently has an average rating of "Moderate Buy" and an average price target of $65.09.

Insider Buying and Selling at Tempus AI

In other news, Director Theodore Leonsis sold 205,847 shares of the company'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 transaction, the director owned 15,511 shares in the company, valued at $1,049,474.26. This represents a 92.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total value of $17,517,500.00. Following the completion of the transaction, the chief executive officer owned 9,357,283 shares in the company, valued at $655,664,819.81. This represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 758,772 shares of company stock valued at $51,005,175 in the last ninety days. Company insiders own 27.60% of the company's stock.

Tempus AI Trading Down 0.1%

Shares of TEM traded down $0.05 during midday trading on Monday, hitting $60.82. The stock had a trading volume of 12,237,210 shares, compared to its average volume of 9,159,512. The business has a 50-day simple moving average of $62.41 and a two-hundred day simple moving average of $58.14. The firm has a market cap of $10.53 billion, a P/E ratio of -51.11 and a beta of 4.98. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. Tempus AI, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. Tempus AI had a negative net margin of 20.98% and a negative return on equity of 157.53%. The firm had revenue of $314.64 million during the quarter, compared to analyst estimates of $296.84 million. During the same quarter last year, the business posted ($6.86) EPS. The company's revenue was up 89.5% on a year-over-year basis. As a group, equities analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current year.

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.