Diversify Advisory Services LLC Invests $731,000 in Tempus AI, Inc. (NASDAQ:TEM)

Diversify Advisory Services LLC bought a new position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 15,155 shares of the company's stock, valued at approximately $731,000.

Several other hedge funds have also recently made changes to their positions in TEM. Franklin Resources Inc. increased its position in shares of Tempus AI by 240.5% during the 4th 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. JPMorgan Chase & Co. increased its position in shares of Tempus AI by 86,947.2% during the 4th 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. Norges Bank bought a new position in shares of Tempus AI during the 4th quarter valued at approximately $34,681,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 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 valued at $205,284,000 after purchasing an additional 1,016,384 shares during the last quarter. Finally, Mariner LLC bought a new position in shares of Tempus AI during the 4th quarter valued at approximately $31,187,000. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Tempus AI Stock Up 0.5%

Shares of TEM traded up $0.33 during midday trading on Friday, reaching $60.98. 8,333,428 shares of the stock were exchanged, compared to its average volume of 7,727,344. Tempus AI, Inc. has a 52 week low of $31.36 and a 52 week high of $91.45. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. The company's 50 day moving average is $63.06 and its two-hundred day moving average is $55.80. The company has a market capitalization of $10.56 billion and a P/E ratio of -7.82.

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, topping analysts' consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. Tempus AI's revenue for the quarter was up 75.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Activity

In other Tempus AI news, Director Jennifer A. Doudna sold 625 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $62.52, for a total value of $39,075.00. Following the completion of the sale, the director directly owned 26,554 shares in the company, valued at approximately $1,660,156.08. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Erik Phelps sold 51,317 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.56, for a total value of $3,723,561.52. Following the completion of the sale, the executive vice president owned 97,779 shares of the company's stock, valued at approximately $7,094,844.24. This trade represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,522 shares of company stock worth $41,600,238 over the last ninety days. 27.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TEM has been the topic of several research analyst reports. Guggenheim upped their price objective on Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. BTIG Research initiated coverage on Tempus AI in a research report on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective on the stock. Bank of America upped their price objective 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, Piper Sandler upped their price objective on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Tempus AI has a consensus rating of "Moderate Buy" and an average price target of $65.09.

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.