Bank of America Corp DE Has $18.76 Million Stock Position in Tempus AI, Inc. $TEM

Bank of America Corp DE lessened its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 63.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,780 shares of the company's stock after selling 725,709 shares during the quarter. Bank of America Corp DE owned approximately 0.23% of Tempus AI worth $18,756,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TEM. JPL Wealth Management LLC acquired a new stake in shares of Tempus AI during the third quarter worth approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in Tempus AI in the 4th quarter worth approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in Tempus AI in the 3rd quarter worth approximately $38,000. Danske Bank A S acquired a new stake in shares of Tempus AI during the 3rd quarter valued at $48,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Tempus AI during the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Tempus AI Price Performance

Shares of NASDAQ:TEM opened at $61.25 on Thursday. Tempus AI, Inc. has a fifty-two week low of $40.77 and a fifty-two week high of $104.32. The business has a 50-day moving average of $52.10 and a two-hundred day moving average of $51.16. The stock has a market capitalization of $11.05 billion, a P/E ratio of -42.53 and a beta of 3.58. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.30 and a quick ratio of 3.16.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $382.49 million for the quarter, compared to the consensus estimate of $379.69 million. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%.The company's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) earnings per share. On average, equities research analysts predict that Tempus AI, Inc. will post -1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TEM shares. Freedom Capital raised shares of Tempus AI to a "hold" rating in a research note on Tuesday, June 30th. Stifel Nicolaus reduced their price objective on Tempus AI from $60.00 to $50.00 and set a "hold" rating for the company in a research report on Monday, August 3rd. Wolfe Research initiated coverage on Tempus AI in a research report on Tuesday, June 2nd. They set a "peer perform" rating for the company. Wall Street Zen upgraded Tempus AI from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Guggenheim upped their target price on Tempus AI from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Tempus AI presently has an average rating of "Hold" and a consensus target price of $64.92.

Insiders Place Their Bets

In other news, CFO James William Rogers sold 11,529 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $55.00, for a total value of $634,095.00. Following the sale, the chief financial officer owned 114,866 shares in the company, valued at approximately $6,317,630. This trade represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer A. Doudna sold 2,673 shares of the business's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $55.00, for a total transaction of $147,015.00. Following the transaction, the director directly owned 25,942 shares in the company, valued at $1,426,810. This trade represents a 9.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 684,424 shares of company stock valued at $33,255,565. 24.26% of the stock is owned by company insiders.

Tempus AI Profile

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company's core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.

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