Mitsubishi UFJ Asset Management Co. Ltd. Has $2.60 Million Stock Holdings in Tempus AI, Inc. (NASDAQ:TEM)

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,900 shares of the company's stock after selling 13,300 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Tempus AI were worth $2,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Operose Advisors LLC acquired a new stake in Tempus AI in the fourth quarter worth about $25,000. Cherry Tree Wealth Management LLC acquired a new stake in Tempus AI in the first quarter worth about $31,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Tempus AI in the first quarter worth about $33,000. Continuum Advisory LLC acquired a new stake in Tempus AI in the first quarter worth about $39,000. Finally, Bartlett & CO. Wealth Management LLC increased its position in Tempus AI by 100.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock worth $39,000 after purchasing an additional 400 shares during the period. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tempus AI

In other news, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the transaction, the chief executive officer owned 9,357,283 shares in the company, valued at $655,664,819.81. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Polovin sold 17,552 shares of Tempus AI stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $63.43, for a total value of $1,113,323.36. Following the transaction, the executive vice president owned 138,877 shares in the company, valued at $8,808,968.11. This trade represents a 11.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 758,772 shares of company stock worth $51,005,175 over the last three months. Company insiders own 27.60% of the company's stock.

Tempus AI Trading Up 9.1%

NASDAQ:TEM opened at $66.34 on Wednesday. Tempus AI, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $91.45. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.54 and a quick ratio of 1.56. The stock has a market capitalization of $11.48 billion, a PE ratio of -55.75 and a beta of 4.98. The business's 50-day simple moving average is $62.50 and its 200-day simple moving average is $58.20.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%. The business had revenue of $314.64 million for the quarter, compared to analysts' expectations of $296.84 million. During the same quarter in the previous year, the business posted ($6.86) EPS. Tempus AI's revenue for the quarter was up 89.5% on a year-over-year basis. Sell-side analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TEM. Bank of America lifted their price objective on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Needham & Company LLC restated a "buy" rating and set a $70.00 target price on shares of Tempus AI in a research report on Friday. Guggenheim boosted 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. Morgan Stanley boosted their target price on Tempus AI from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Piper Sandler restated a "neutral" rating on shares of Tempus AI in a research report on Friday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.