Bank of America Corp DE Sells 43,475 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Bank of America Corp DE cut its holdings in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,813 shares of the company's stock after selling 43,475 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Tempus AI worth $4,011,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. ARK Investment Management LLC raised its position in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock valued at $186,343,000 after purchasing an additional 3,141,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. raised its position in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after purchasing an additional 1,950,862 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley boosted their price target on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a research note on Wednesday, May 7th. Guggenheim reissued a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. BTIG Research assumed coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price target on the stock. Finally, TD Cowen reissued a "buy" rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.42.

Insider Activity at Tempus AI

In related news, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the transaction, the executive vice president now owns 154,171 shares of the company's stock, valued at $7,088,782.58. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 3,000 shares of Tempus AI stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the transaction, the director now directly owns 26,514 shares in the company, valued at approximately $1,207,447.56. The trade was a 10.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,042 shares of company stock valued at $37,642,690 over the last 90 days. Insiders own 27.60% of the company's stock.

Tempus AI Stock Up 15.0%

Tempus AI stock traded up $8.29 during mid-day trading on Monday, reaching $63.47. The stock had a trading volume of 31,405,624 shares, compared to its average volume of 6,779,643. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. Tempus AI, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $91.45. The stock's 50-day simple moving average is $52.28 and its 200-day simple moving average is $51.83. The firm has a market capitalization of $10.99 billion and a PE ratio of -8.14.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. The company had revenue of $255.74 million for the quarter, compared to analysts' expectations of $248.13 million. The firm's revenue for the quarter was up 75.4% compared to the same quarter last year. On average, sell-side analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Tempus AI Company 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.