Clarus Group Inc. Invests $241,000 in Tempus AI, Inc. (NASDAQ:TEM)

Clarus Group Inc. acquired a new stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEM. Operose Advisors LLC acquired a new stake in shares of Tempus AI in the fourth quarter valued at about $25,000. Cherry Tree Wealth Management LLC acquired a new position in Tempus AI during the first quarter worth about $31,000. Farther Finance Advisors LLC acquired a new position in Tempus AI during the fourth quarter worth about $34,000. Prestige Wealth Management Group LLC raised its position in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after acquiring an additional 965 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new position in Tempus AI during the first quarter worth about $39,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TEM. BTIG Research began coverage on shares of Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $70.00 target price on shares of Tempus AI in a research report on Wednesday, May 7th. Morgan Stanley lifted their target price on shares of Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Piper Sandler lifted their target price on shares of Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Bank of America boosted their price objective on shares of Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.58.

Tempus AI Price Performance

NASDAQ TEM opened at $66.52 on Friday. The company has a 50 day simple moving average of $61.26 and a 200-day simple moving average of $53.30. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56. The firm has a market capitalization of $11.52 billion and a price-to-earnings ratio of -8.53. Tempus AI, Inc. has a 52-week low of $30.77 and a 52-week high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share 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 firm had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The company's revenue was up 75.4% on a year-over-year basis. Equities research analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Tempus AI

In related news, CAO Ryan M. Bartolucci sold 6,073 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.23, for a total value of $383,995.79. Following the completion of the transaction, the chief accounting officer now directly owns 47,799 shares in the company, valued at approximately $3,022,330.77. The trade was a 11.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 3,000 shares of the business's 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 completion of the transaction, the director now owns 26,514 shares of the company's stock, valued at $1,207,447.56. This represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 609,897 shares of company stock valued at $41,397,783. 27.60% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.