Diversify Wealth Management LLC Buys Shares of 53,746 Tempus AI, Inc. (NASDAQ:TEM)

Diversify Wealth Management LLC acquired a new stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 53,746 shares of the company's stock, valued at approximately $2,593,000.

A number of other hedge funds have also added to or reduced their stakes in TEM. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 31.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Tempus AI by 240.5% during the fourth 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 stake in shares of Tempus AI by 86,947.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock worth $55,836,000 after buying an additional 1,651,996 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Tempus AI during the fourth quarter worth $34,681,000. 24.22% of the stock is owned by institutional investors.

Insider Activity at Tempus AI

In other Tempus AI news, Director Jennifer A. Doudna sold 625 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company's stock, valued at approximately $1,660,156.08. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodore Leonsis sold 205,847 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the completion of the sale, the director directly owned 15,511 shares of the company's stock, valued at $1,049,474.26. The trade was a 92.99% 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 valued at $41,600,238 over the last quarter. 27.60% of the stock is currently owned by company insiders.

Tempus AI Trading Down 4.6%

TEM stock traded down $2.72 during midday trading on Friday, hitting $56.88. The stock had a trading volume of 8,009,649 shares, compared to its average volume of 7,523,388. The firm has a market cap of $9.85 billion and a P/E ratio of -7.29. 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 1-year low of $31.36 and a 1-year high of $91.45. The business has a fifty day moving average price of $62.98 and a two-hundred day moving average price of $54.80.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (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 analyst estimates of $248.13 million. The company's revenue was up 75.4% on a year-over-year basis. On average, sell-side analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEM. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price target on shares of Tempus AI in a report on Wednesday, May 7th. Bank of America lifted their price target on shares of Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Piper Sandler lifted their price target on shares of Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Guggenheim lifted their price target on shares of Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, BTIG Research began coverage on shares of Tempus AI in a report on Monday, April 21st. They set a "buy" rating and a $60.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Tempus AI presently has an average rating of "Moderate Buy" and an average price target of $65.09.

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.