Alliancebernstein L.P. Sells 576,214 Shares of Tempus AI, Inc. $TEM

Alliancebernstein L.P. trimmed its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 61.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 368,919 shares of the company's stock after selling 576,214 shares during the quarter. Alliancebernstein L.P. owned 0.21% of Tempus AI worth $17,797,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC bought a new stake in Tempus AI in the first quarter worth $31,000. University of Texas Texas AM Investment Management Co. bought a new stake in Tempus AI in the first quarter worth $33,000. Bartlett & CO. Wealth Management LLC boosted its holdings in Tempus AI by 100.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock worth $39,000 after acquiring an additional 400 shares in the last quarter. Nemes Rush Group LLC bought a new stake in Tempus AI in the first quarter worth $39,000. Finally, Continuum Advisory LLC bought a new stake in Tempus AI in the first quarter worth $39,000. 24.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Tempus AI

In other news, Director Theodore Leonsis sold 44,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $69.90, for a total value of $3,075,600.00. Following the completion of the sale, the director directly owned 86,756 shares of the company's stock, valued at $6,064,244.40. This trade represents a 33.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ryan Fukushima sold 17,460 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $74.65, for a total value of $1,303,389.00. Following the completion of the sale, the chief operating officer directly owned 839,180 shares of the company's stock, valued at $62,644,787. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 903,104 shares of company stock worth $63,733,330 over the last three months. 26.27% of the stock is owned by company insiders.

Tempus AI Stock Performance

NASDAQ:TEM opened at $78.16 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.43 and a debt-to-equity ratio of 2.58. Tempus AI, Inc. has a 12-month low of $31.36 and a 12-month high of $91.45. The stock has a 50-day moving average price of $66.53 and a 200 day moving average price of $59.29. The stock has a market capitalization of $13.58 billion, a P/E ratio of -65.68 and a beta of 5.08.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm had revenue of $314.64 million during the quarter, compared to analysts' expectations of $296.84 million. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%.The firm's revenue was up 89.5% on a year-over-year basis. During the same quarter last year, the business posted ($6.86) earnings per share. Tempus AI has set its FY 2025 guidance at EPS. Equities research analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEM has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a "neutral" rating on shares of Tempus AI in a report on Friday, August 8th. HC Wainwright initiated coverage on Tempus AI in a report on Tuesday, September 2nd. They set a "buy" rating and a $90.00 price target on the stock. Guggenheim upped their price target on Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bank of America upped their price target on Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Tempus AI presently has an average rating of "Moderate Buy" and an average target price of $69.50.

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.

Want to see what other hedge funds are holding TEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tempus AI, Inc. (NASDAQ:TEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.