Ameriprise Financial Inc. Acquires New Stake in Tempus AI, Inc. (NASDAQ:TEM)

Ameriprise Financial Inc. purchased a new stake in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 260,330 shares of the company's stock, valued at approximately $8,789,000. Ameriprise Financial Inc. owned 0.17% of Tempus AI at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Tempus AI during the fourth quarter valued at $216,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tempus AI during the fourth quarter valued at $1,091,000. Wells Fargo & Company MN increased its stake in shares of Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after buying an additional 278 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Tempus AI during the fourth quarter valued at $178,000. Finally, abrdn plc purchased a new position in shares of Tempus AI during the fourth quarter valued at $2,784,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Stock Up 5.6%

Shares of TEM stock traded up $3.31 during trading hours on Friday, reaching $62.56. 10,312,957 shares of the company's stock were exchanged, compared to its average volume of 6,365,849. Tempus AI, Inc. has a 1 year low of $22.89 and a 1 year high of $91.45. The stock has a market cap of $10.77 billion and a PE ratio of -8.02. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The stock's fifty day moving average price is $51.22 and its two-hundred day moving average price is $52.07.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. The business had revenue of $255.74 million for the quarter, compared to analysts' expectations of $248.13 million. The business's revenue for the quarter was up 75.4% compared to the same quarter last year. Research analysts predict that Tempus AI, Inc. will post -6.15 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TEM shares. Wolfe Research lowered Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Bank of America lifted their target price on Tempus AI from $48.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday. TD Cowen reiterated a "buy" rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Morgan Stanley lifted their target price on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, BTIG Research initiated coverage on Tempus AI in a research note on Monday, April 21st. They issued 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 seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.42.

Insider Buying and Selling

In other Tempus AI news, CAO Ryan M. Bartolucci sold 6,073 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.23, for a total value of $383,995.79. Following the completion of the transaction, the chief accounting officer now directly owns 47,799 shares of the company's stock, valued at approximately $3,022,330.77. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Ryan Fukushima sold 7,820 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $63.21, for a total value of $494,302.20. Following the completion of the transaction, the chief operating officer now directly owns 876,640 shares of the company's stock, valued at $55,412,414.40. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,963,276 shares of company stock valued at $228,006,438 over the last quarter. 27.60% of the stock is currently owned by company insiders.

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.