Diversify Wealth Management LLC Buys New Stake in Tempus AI, Inc. (NASDAQ:TEM)

Diversify Wealth Management LLC bought a new position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 53,746 shares of the company's stock, valued at approximately $2,593,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Tempus AI during the 4th quarter worth approximately $1,615,000. US Bancorp DE bought a new position in shares of Tempus AI during the 4th quarter worth approximately $80,000. Victory Capital Management Inc. bought a new position in shares of Tempus AI during the 4th quarter worth approximately $216,000. Raymond James Financial Inc. bought a new position in shares of Tempus AI during the 4th quarter worth approximately $3,757,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Tempus AI during the 4th quarter worth approximately $34,000. 24.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Guggenheim upped their target price on 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 upped their target price on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Piper Sandler upped their target price on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley upped their target price on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, 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 target for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Tempus AI presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.09.

Tempus AI Stock Performance

TEM traded down $1.93 during midday trading on Tuesday, reaching $55.89. The company had a trading volume of 9,336,825 shares, compared to its average volume of 7,552,487. The company has a market cap of $9.68 billion and a P/E ratio of -7.17. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45. The business has a 50-day moving average of $62.98 and a two-hundred day moving average of $55.08. Tempus AI, Inc. has a 1 year low of $31.36 and a 1 year high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 533.21% and a negative net margin of 88.27%. The business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The firm's revenue was up 75.4% compared to the same quarter last year. As a group, equities research analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Transactions at Tempus AI

In related news, COO Ryan Fukushima sold 5,000 shares of Tempus AI stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief operating officer owned 145,000 shares in the company, valued at $8,700,000. The trade was a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer A. Doudna sold 625 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $62.52, for a total value of $39,075.00. Following the sale, the director owned 26,554 shares of the company's stock, valued at approximately $1,660,156.08. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 612,522 shares of company stock worth $41,600,238. 27.60% of the stock is currently owned by corporate 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.