PFG Investments LLC Purchases New Stake in Tempus AI, Inc. (NASDAQ:TEM)

PFG Investments LLC purchased a new stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,175 shares of the company's stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEM. Victory Capital Management Inc. purchased a new stake in Tempus AI in the fourth quarter valued at $216,000. Wells Fargo & Company MN raised its position in Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in Tempus AI in the first quarter valued at $535,000. ProShare Advisors LLC purchased a new stake in Tempus AI in the fourth quarter valued at $244,000. Finally, Avanza Fonder AB raised its position in Tempus AI by 15.8% in the first quarter. Avanza Fonder AB now owns 41,005 shares of the company's stock valued at $2,047,000 after purchasing an additional 5,591 shares during the period. Institutional investors and hedge funds own 24.22% of the company's stock.

Analysts Set New Price Targets

TEM has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. BTIG Research initiated coverage on Tempus AI in a research report on Monday, April 21st. They issued a "buy" rating and a $60.00 target price on the stock. Bank of America lifted their target price on Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $70.00 price target on shares of Tempus AI in a research report on Wednesday, May 7th. Finally, Morgan Stanley raised their price target on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Tempus AI presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.58.

Tempus AI Trading Up 4.4%

NASDAQ:TEM opened at $68.34 on Friday. The firm has a market cap of $11.83 billion and a PE ratio of -8.76. The stock has a fifty day moving average price of $60.74 and a 200 day moving average price of $53.15. Tempus AI, Inc. has a 12-month low of $27.68 and a 12-month high of $91.45. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. Tempus AI's revenue for the quarter was up 75.4% on a year-over-year basis. Sell-side analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Activity at Tempus AI

In other Tempus AI 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 completion of the sale, the chief executive officer now directly owns 9,357,283 shares of the company's stock, valued at $655,664,819.81. The trade was a 2.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Erik Phelps sold 51,317 shares of Tempus AI stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.56, for a total value of $3,723,561.52. Following the sale, the executive vice president now directly owns 97,779 shares of the company's stock, valued at $7,094,844.24. This trade represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 609,897 shares of company stock worth $41,397,783. Company insiders own 27.60% of the company's stock.

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.