Norges Bank Purchases New Position in Tempus AI, Inc. $TEM

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Tempus AI, buying 816,840 shares worth about $48.2 million, or roughly 0.46% of the company.
• Several insiders have been selling shares: CEO Eric P. Lefkofsky sold 166,250 shares, and CFO James William Rogers sold 10,853 shares, while insiders collectively sold 558,557 shares in the last quarter.
• Tempus AI reported quarterly revenue of $348.1 million, topping estimates and rising 36.1% year over year, though the company still posted a $0.13 EPS loss and remains unprofitable.

Norges Bank purchased a new stake in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 816,840 shares of the company's stock, valued at approximately $48,234,000. Norges Bank owned about 0.46% of Tempus AI at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in shares of Tempus AI during the third quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd purchased a new stake in Tempus AI in the third quarter worth $38,000. Danske Bank A S bought a new stake in Tempus AI in the third quarter valued at $48,000. Sunbelt Securities Inc. purchased a new position in Tempus AI during the 3rd quarter valued at $52,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Tempus AI by 64.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the company's stock valued at $53,000 after purchasing an additional 256 shares during the period. Hedge funds and other institutional investors own 24.22% of the company's stock.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 166,250 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $46.70, for a total value of $7,763,875.00. Following the transaction, the chief executive officer directly owned 8,808,533 shares of the company's stock, valued at approximately $411,358,491.10. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James William Rogers sold 10,853 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total value of $478,291.71. Following the sale, the chief financial officer owned 126,395 shares in the company, valued at approximately $5,570,227.65. This represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 558,557 shares of company stock valued at $26,611,939. 24.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEM. Robert W. Baird started coverage on shares of Tempus AI in a research report on Tuesday, February 17th. They issued an "outperform" rating and a $59.00 target price for the company. TD Cowen boosted their price target on shares of Tempus AI from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Guggenheim decreased their price target on shares of Tempus AI from $95.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, March 30th. Mizuho began coverage on shares of Tempus AI in a report on Thursday, February 19th. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, Morgan Stanley reduced their target price on Tempus AI from $85.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.64.

Tempus AI Stock Performance

NASDAQ TEM opened at $46.43 on Monday. Tempus AI, Inc. has a 12 month low of $41.73 and a 12 month high of $104.32. The company has a current ratio of 3.31, a quick ratio of 3.15 and a debt-to-equity ratio of 2.96. The stock's fifty day moving average price is $48.89 and its 200-day moving average price is $57.42. The stock has a market cap of $8.34 billion, a P/E ratio of -26.99 and a beta of 3.64.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.08. Tempus AI had a negative net margin of 22.20% and a negative return on equity of 53.83%. The company had revenue of $348.12 million for the quarter, compared to analysts' expectations of $345.44 million. During the same quarter in the previous year, the business posted ($0.24) EPS. Tempus AI's revenue was up 36.1% compared to the same quarter last year. As a group, equities analysts forecast that Tempus AI, Inc. will post -1.35 EPS for the current fiscal year.

Tempus AI Company Profile

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company's core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.

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