CloudAlpha Capital Management Limited Hong Kong Makes New $34.12 Million Investment in Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• CloudAlpha Capital Management Limited Hong Kong acquired a new position in Tempus AI, Inc., purchasing 707,279 shares valued at approximately $34.1 million, making it the firm's 6th largest holding.
• Tempus AI reported a quarterly earnings per share (EPS) of ($0.24), surpassing analysts' expectations, with a revenue of $255.74 million, a 75.4% year-over-year increase.
• Several research firms have raised their price targets for Tempus AI, with averages now around $65.09, and the stock receiving multiple ratings including "buy" and "neutral."

CloudAlpha Capital Management Limited Hong Kong acquired a new position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 707,279 shares of the company's stock, valued at approximately $34,119,000. Tempus AI comprises about 2.7% of CloudAlpha Capital Management Limited Hong Kong's holdings, making the stock its 6th largest holding. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.41% of Tempus AI as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEM. Franklin Resources Inc. grew its position in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after buying an additional 1,950,862 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock worth $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. Norges Bank purchased a new stake in Tempus AI during the 4th quarter worth approximately $34,681,000. Sumitomo Mitsui Trust Group Inc. grew its position in Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after purchasing an additional 1,016,384 shares during the last quarter. Finally, Mariner LLC purchased a new stake in Tempus AI during the 4th quarter worth approximately $31,187,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Stock Performance

Shares of TEM stock traded up $1.15 during trading hours on Friday, hitting $64.49. The company's stock had a trading volume of 6,640,308 shares, compared to its average volume of 9,021,300. The company has a 50 day moving average of $62.80 and a 200 day moving average of $56.51. The stock has a market cap of $11.16 billion and a PE ratio of -8.27. 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, Inc. has a 12-month low of $31.36 and a 12-month high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $255.74 million for the quarter, compared to the consensus estimate 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.

Insider Transactions at Tempus AI

In related news, CFO James William Rogers sold 23,121 shares of the business's stock in a transaction on 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 transaction, the chief financial officer directly owned 146,001 shares in the company, valued at $9,237,483.27. The trade was a 13.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Theodore Leonsis sold 205,847 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the completion of the transaction, the director owned 15,511 shares of the company's stock, valued at approximately $1,049,474.26. This represents a 92.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 612,522 shares of company stock worth $41,600,238. Insiders own 27.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC reissued 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 boosted 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. Guggenheim boosted their target price on shares of Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Bank of America boosted their target price on shares of Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Finally, Piper Sandler boosted 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tempus AI currently has an average rating of "Moderate Buy" and an average price target of $65.09.

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.