IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 26,533 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Tempus AI by 109.9% in Q1, acquiring an additional 26,533 shares, bringing its total to 50,666 shares worth approximately $2.44 million.
• Multiple institutional investors have recently made moves in Tempus AI, with notable investments from Operose Advisors LLC and Cherry Tree Wealth Management LLC, underscoring institutional interest in the company.
• Tempus AI has received positive analyst ratings, with a consensus target price of $65.09 and several firms projecting significant growth potential for the stock.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 109.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,666 shares of the company's stock after acquiring an additional 26,533 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Tempus AI were worth $2,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TEM. Operose Advisors LLC bought a new position in shares of Tempus AI in the fourth quarter worth about $25,000. Cherry Tree Wealth Management LLC bought a new position in shares of Tempus AI in the first quarter worth about $31,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Tempus AI in the first quarter worth about $33,000. Continuum Advisory LLC bought a new position in Tempus AI in the 1st quarter valued at approximately $39,000. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in Tempus AI by 100.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock valued at $39,000 after buying an additional 400 shares during the last quarter. Institutional investors own 24.22% of the company's stock.

Wall Street Analysts Forecast Growth

TEM has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Guggenheim raised their price objective on shares of Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a report on Monday, June 30th. Piper Sandler raised their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Morgan Stanley raised their price objective on shares of Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, BTIG Research initiated coverage on shares of Tempus AI in a report on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.09.

Insider Activity

In other news, CEO Eric P. Lefkofsky sold 250,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the completion of the sale, the chief executive officer owned 9,357,283 shares of the company's stock, valued at $655,664,819.81. This trade represents a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Theodore Leonsis sold 205,847 shares of the firm's stock in a transaction that occurred on 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 sale, the director directly owned 15,511 shares of the company's stock, valued at approximately $1,049,474.26. This trade represents a 92.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 778,772 shares of company stock worth $52,052,375. 27.60% of the stock is owned by insiders.

Tempus AI Stock Down 3.0%

Tempus AI stock opened at $54.89 on Monday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. Tempus AI, Inc. has a 52-week low of $31.36 and a 52-week high of $91.45. The firm has a 50 day moving average price of $62.47 and a two-hundred day moving average price of $57.61. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of -7.04 and a beta of 4.98.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The business's revenue was up 75.4% on a year-over-year basis. Equities analysts predict that Tempus AI, Inc. will post -6.15 EPS for the current year.

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.

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