Tempus AI, Inc. (NASDAQ:TEM) Position Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its holdings in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,029 shares of the company's stock after purchasing an additional 4,855 shares during the quarter. Exchange Traded Concepts LLC owned 0.05% of Tempus AI worth $4,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Tempus AI during the 4th quarter worth $1,344,000. Sigma Planning Corp grew its position in Tempus AI by 43.9% during the fourth quarter. Sigma Planning Corp now owns 33,638 shares of the company's stock worth $1,136,000 after buying an additional 10,269 shares during the period. First Horizon Advisors Inc. increased its holdings in Tempus AI by 207.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after buying an additional 1,108 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of Tempus AI during the 4th quarter valued at approximately $76,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Tempus AI during the 4th quarter valued at approximately $1,615,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America upped their price target on Tempus AI from $48.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Piper Sandler raised their price target on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered shares of Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.42.

Tempus AI Stock Down 2.6%

Tempus AI stock traded down $1.89 during trading on Tuesday, reaching $70.11. 7,738,671 shares of the company's stock were exchanged, compared to its average volume of 7,020,541. Tempus AI, Inc. has a 52-week low of $22.89 and a 52-week high of $91.45. The firm has a market cap of $12.14 billion and a price-to-earnings ratio of -8.99. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The company's 50-day moving average is $56.60 and its two-hundred day moving average is $52.38.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. The firm's revenue for the quarter was up 75.4% compared to the same quarter last year. On average, analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Buying and Selling at Tempus AI

In related news, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the completion of the transaction, the chief operating officer now owns 884,460 shares of the company's stock, valued at approximately $46,310,325.60. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 3,000 shares of the firm'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 sale, the director now owns 26,514 shares of the company's stock, valued at approximately $1,207,447.56. This trade represents a 10.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 308,580 shares of company stock valued at $20,156,721 over the last 90 days. 27.60% of the stock is owned by corporate insiders.

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.