Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $311,000 in Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• Arrowpoint Investment Partners invested $311,000 in Tempus AI, acquiring 6,452 shares during the first quarter, reflecting growing institutional interest in the company.
• Several institutional investors, including Vanguard Group and ARK Investment Management, significantly increased their stakes in Tempus AI during the same period, indicating strong institutional confidence in the company's prospects.
• Tempus AI reported impressive quarterly results, exceeding revenue expectations with $314.64 million, contributing to a year-over-year revenue increase of 89.5%.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,452 shares of the company's stock, valued at approximately $311,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Tempus AI by 6,247.5% in the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock valued at $289,204,000 after purchasing an additional 5,900,668 shares during the period. ARK Investment Management LLC grew its stake in shares of Tempus AI by 35.9% during the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock worth $361,867,000 after acquiring an additional 1,981,755 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Tempus AI by 31.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after acquiring an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after acquiring an additional 1,016,384 shares during the period. Finally, Mariner LLC bought a new position in shares of Tempus AI during the 4th quarter worth $31,187,000. 24.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on TEM. BTIG Research began coverage on Tempus AI in a research note on Friday. They set a "buy" rating and a $60.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a research note on Friday. Piper Sandler restated a "neutral" rating on shares of Tempus AI in a research note on Friday. Bank of America raised their target price on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Finally, Guggenheim raised their target price on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.36.

Insiders Place Their Bets

In other news, EVP Andrew Polovin sold 17,552 shares of Tempus AI stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.43, for a total value of $1,113,323.36. Following the sale, the executive vice president directly owned 138,877 shares in the company, valued at approximately $8,808,968.11. This trade represents a 11.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore Leonsis sold 205,847 shares of Tempus AI stock in a transaction that occurred on 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 completion of the sale, the director owned 15,511 shares in the company, valued at approximately $1,049,474.26. This represents a 92.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 758,772 shares of company stock worth $51,005,175. 27.60% of the stock is currently owned by corporate insiders.

Tempus AI Stock Performance

Shares of NASDAQ TEM opened at $66.34 on Wednesday. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of -55.75 and a beta of 4.98. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 2.58. Tempus AI, Inc. has a 1-year low of $31.36 and a 1-year high of $91.45. The stock's 50-day moving average is $62.50 and its 200 day moving average is $58.20.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. The business had revenue of $314.64 million for 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 business's quarterly revenue was up 89.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($6.86) EPS. On average, sell-side 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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