Private Advisor Group LLC Sells 15,285 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• Private Advisor Group LLC reduced its stake in Tempus AI, Inc. by 38.4%, selling 15,285 shares and leaving them with 24,518 shares valued at approximately $1.18 million.
• Insider activity is notable, with Erik Phelps selling 51,317 shares and James William Rogers selling 23,121 shares, resulting in significant decreases in their respective ownerships.
• Tempus AI's stock opened at $64.49 with a market cap of $11.16 billion and reported a year-over-year revenue increase of 75.4% in its latest quarterly earnings.

Private Advisor Group LLC lowered its holdings in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 38.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,518 shares of the company's stock after selling 15,285 shares during the period. Private Advisor Group LLC's holdings in Tempus AI were worth $1,183,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC bought a new stake in shares of Tempus AI in the first quarter valued at approximately $31,000. Operose Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter valued at $25,000. Bartlett & CO. Wealth Management LLC lifted its position in shares of Tempus AI by 100.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock valued at $39,000 after acquiring an additional 400 shares during the period. Continuum Advisory LLC bought a new stake in shares of Tempus AI during the 1st quarter valued at $39,000. Finally, Signaturefd LLC bought a new stake in shares of Tempus AI during the 1st quarter valued at $48,000. Institutional investors own 24.22% of the company's stock.

Insider Activity

In other news, EVP Erik Phelps sold 51,317 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the completion of the transaction, the executive vice president owned 97,779 shares of the company's stock, valued at approximately $7,094,844.24. This trade represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James William Rogers sold 23,121 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $63.27, for a total value of $1,462,865.67. Following the transaction, the chief financial officer directly owned 146,001 shares of the company's stock, valued at approximately $9,237,483.27. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 612,522 shares of company stock valued at $41,600,238. 27.60% of the stock is currently owned by company insiders.

Tempus AI Price Performance

Tempus AI stock opened at $64.49 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $11.16 billion and a PE ratio of -8.27. Tempus AI, Inc. has a 12 month low of $31.36 and a 12 month high of $91.45. The stock has a 50-day moving average price of $62.80 and a two-hundred day moving average price of $56.65.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The company's revenue for the quarter was up 75.4% on a year-over-year basis. Analysts expect that Tempus AI, Inc. will post -6.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEM. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. BTIG Research assumed coverage on shares of Tempus AI in a report on Monday, April 21st. They set a "buy" rating and a $60.00 price target for the company. Morgan Stanley upped their price target on shares of Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Piper Sandler upped their target price on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Finally, Guggenheim upped their target price on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.09.

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.

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