Caitong International Asset Management Co. Ltd Boosts Stock Position in Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Tempus AI, raising its holdings by 27,717.6% in the first quarter, with a total investment now worth $684,000.
• Executive Vice President Erik Phelps sold over 51,000 shares of Tempus AI at approximately $72.56 per share, marking a substantial decline in his ownership position.
• Tempus AI reported a 89.5% year-over-year revenue increase with Q2 earnings surpassing expectations, while analysts maintain a consensus rating of "Moderate Buy" for the stock.

Caitong International Asset Management Co. Ltd increased its holdings in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 27,717.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,187 shares of the company's stock after purchasing an additional 14,136 shares during the quarter. Tempus AI accounts for about 0.5% of Caitong International Asset Management Co. Ltd's holdings, making the stock its 28th largest holding. Caitong International Asset Management Co. Ltd's holdings in Tempus AI were worth $684,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TEM. First Horizon Advisors Inc. increased its stake in Tempus AI by 12.7% during the 1st quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company's stock worth $89,000 after buying an additional 208 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in shares of Tempus AI by 100.0% in the first 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tempus AI by 10.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company's stock valued at $268,000 after purchasing an additional 515 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC purchased a new stake in shares of Tempus AI in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEM. Piper Sandler restated a "neutral" rating on shares of Tempus AI in a research report on Friday, August 8th. BTIG Research began coverage on Tempus AI in a research report on Friday, August 8th. They issued a "buy" rating and a $60.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a research report on Friday, August 8th. Bank of America upped their price target on Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Finally, Guggenheim increased their price objective on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.36.

Insider Buying and Selling at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 250,000 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the completion of the transaction, the chief executive officer directly owned 9,357,283 shares of the company's stock, valued at $655,664,819.81. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James William Rogers sold 23,121 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $63.27, for a total value of $1,462,865.67. Following the completion of the sale, the chief financial officer directly owned 146,001 shares in the company, valued at $9,237,483.27. This represents a 13.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 758,772 shares of company stock valued at $51,005,175. Corporate insiders own 27.60% of the company's stock.

Tempus AI Trading Up 2.8%

Shares of TEM traded up $1.96 during midday trading on Thursday, hitting $71.59. 15,187,187 shares of the stock were exchanged, compared to its average volume of 12,543,945. Tempus AI, Inc. has a 52-week low of $31.36 and a 52-week high of $91.45. The stock has a fifty day simple moving average of $62.90 and a 200 day simple moving average of $58.41. The firm has a market cap of $12.39 billion, a P/E ratio of -60.16 and a beta of 4.98. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.56 and a current ratio of 1.54.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%. The business had revenue of $314.64 million during the quarter, compared to analyst estimates of $296.84 million. During the same period last year, the business posted ($6.86) earnings per share. The company's quarterly revenue was up 89.5% on a year-over-year basis. On average, research analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

About Tempus AI

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.