ARK Investment Management LLC Sells 79,629 Shares of Tempus AI, Inc. $TEM

Key Points

• ARK Investment Management LLC decreased its position in Tempus AI, Inc. by 1.1%, selling 79,629 shares during the second quarter, leaving it with roughly 7.42 million shares.
• Multiple institutional investors increased their stakes in Tempus AI, including Concord Wealth Partners, which raised its position by 308% in the same quarter.
• Analyst ratings for Tempus AI vary, with Guggenheim raising their price target to $95 while Weiss Ratings issued a "sell" rating, reflecting differing views on the stock's performance.

ARK Investment Management LLC trimmed its position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,421,770 shares of the company's stock after selling 79,629 shares during the quarter. Tempus AI accounts for approximately 3.5% of ARK Investment Management LLC's portfolio, making the stock its 10th largest holding. ARK Investment Management LLC owned about 4.29% of Tempus AI worth $471,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Concord Wealth Partners increased its stake in shares of Tempus AI by 308.0% during the second quarter. Concord Wealth Partners now owns 408 shares of the company's stock worth $26,000 after acquiring an additional 308 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Tempus AI during the first quarter worth about $33,000. Bartlett & CO. Wealth Management LLC increased its stake 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 worth $39,000 after acquiring an additional 400 shares during the period. Continuum Advisory LLC acquired a new position in shares of Tempus AI during the first quarter worth about $39,000. Finally, Nemes Rush Group LLC acquired a new position in shares of Tempus AI during the first quarter worth about $39,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tempus AI news, EVP Erik Phelps sold 3,664 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $74.65, for a total value of $273,517.60. Following the sale, the executive vice president owned 94,115 shares of the company's stock, valued at $7,025,684.75. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ryan Fukushima sold 5,000 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $92.32, for a total transaction of $461,600.00. Following the completion of the sale, the chief operating officer directly owned 130,000 shares in the company, valued at $12,001,600. This trade represents a 3.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 933,662 shares of company stock valued at $68,070,993. 26.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TEM has been the topic of a number of recent analyst reports. Guggenheim boosted their price target on shares of Tempus AI from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tempus AI in a research note on Wednesday, October 8th. TD Cowen lowered shares of Tempus AI from a "buy" rating to a "hold" rating and set a $88.00 target price on the stock. in a research report on Tuesday. Canaccord Genuity Group assumed coverage on shares of Tempus AI in a research report on Monday. They set a "buy" rating and a $110.00 target price on the stock. Finally, BTIG Research upped their target price on shares of Tempus AI from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $76.69.

Tempus AI Stock Down 3.6%

Shares of NASDAQ TEM opened at $89.10 on Wednesday. Tempus AI, Inc. has a 12-month low of $31.36 and a 12-month high of $104.32. The company has a market capitalization of $15.48 billion, a PE ratio of -74.87 and a beta of 4.87. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.54 and a quick ratio of 1.43. The firm's 50-day moving average is $83.27 and its two-hundred day moving average is $66.88.

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

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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