Bank of New York Mellon Corp increased its stake in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,965 shares of the company's stock after buying an additional 13,142 shares during the quarter. Bank of New York Mellon Corp's holdings in Tempus AI were worth $2,941,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TEM. Operose Advisors LLC purchased a new stake in shares of Tempus AI in the 4th quarter valued at about $25,000. Cherry Tree Wealth Management LLC bought a new stake in shares of Tempus AI in the 1st quarter worth approximately $31,000. Continuum Advisory LLC purchased a new position in shares of Tempus AI in the 1st quarter valued at approximately $39,000. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Tempus AI by 100.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock valued at $39,000 after purchasing an additional 400 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in Tempus AI during the fourth quarter valued at $49,000. Institutional investors own 24.22% of the company's stock.
Tempus AI Stock Performance
TEM traded up $0.31 on Thursday, hitting $58.12. 2,491,997 shares of the company's stock were exchanged, compared to its average volume of 12,539,932. The firm has a market cap of $10.06 billion and a PE ratio of -7.44. Tempus AI, Inc. has a twelve month low of $31.36 and a twelve month high of $91.45. The stock has a fifty day moving average of $62.68 and a two-hundred day moving average of $56.96. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45.
Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The company had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The business's revenue was up 75.4% compared to the same quarter last year. On average, research analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, COO Ryan Fukushima sold 5,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief operating officer owned 145,000 shares in the company, valued at approximately $8,700,000. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric P. Lefkofsky sold 166,250 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $62.87, for a total transaction of $10,452,137.50. Following the completion of the transaction, the chief executive officer owned 9,274,033 shares in the company, valued at approximately $583,058,454.71. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 778,772 shares of company stock worth $52,052,375. Insiders own 27.60% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on TEM. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. Morgan Stanley boosted their price target on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. BTIG Research began coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price target for the company. Guggenheim boosted their price target on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Piper Sandler lifted their price objective on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Tempus AI currently has an average rating of "Moderate Buy" and a consensus price target of $65.09.
View Our Latest Report on Tempus AI
Tempus AI Company Profile
(
Free Report)
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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