Sumitomo Mitsui Trust Group Inc. Raises Position in Tempus AI, Inc. $TEM

Key Points

• Sumitomo Mitsui Trust Group increased its Tempus AI stake by 23.4% in Q1, buying 821,490 more shares and lifting its total holding to 4.33 million shares worth about $195.6 million.
• Several other institutional investors also added to positions, while insiders have been selling: CAO Ryan M. Bartolucci and CFO James William Rogers both disclosed recent sales, and insiders sold 582,759 shares over the last 90 days.
• Analysts remain mixed on Tempus AI, with recent rating downgrades and lower price targets offset by some buy ratings; the consensus view is Hold with a $68.54 price target, while the stock was trading up 7.4% at $61.50.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 23.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,326,313 shares of the company's stock after buying an additional 821,490 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 2.42% of Tempus AI worth $195,636,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aberdeen Group plc boosted its stake in shares of Tempus AI by 64.2% during the fourth quarter. Aberdeen Group plc now owns 263,004 shares of the company's stock valued at $15,530,000 after purchasing an additional 102,878 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Tempus AI by 291.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 48,488 shares of the company's stock worth $2,948,000 after purchasing an additional 36,096 shares during the last quarter. Bogart Wealth LLC increased its stake in shares of Tempus AI by 365,087.5% in the fourth quarter. Bogart Wealth LLC now owns 58,430 shares of the company's stock worth $3,450,000 after buying an additional 58,414 shares during the period. Bamco Inc. NY increased its stake in shares of Tempus AI by 53.7% in the third quarter. Bamco Inc. NY now owns 263,250 shares of the company's stock worth $21,247,000 after buying an additional 92,007 shares during the period. Finally, Landscape Capital Management L.L.C. increased its stake in shares of Tempus AI by 19.8% in the third quarter. Landscape Capital Management L.L.C. now owns 136,372 shares of the company's stock worth $11,007,000 after buying an additional 22,581 shares during the period. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Ryan M. Bartolucci sold 4,116 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total value of $181,392.12. Following the sale, the chief accounting officer directly owned 74,041 shares of the company's stock, valued at $3,262,986.87. This represents a 5.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James William Rogers sold 11,529 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $55.00, for a total transaction of $634,095.00. Following the completion of the transaction, the chief financial officer owned 114,866 shares of the company's stock, valued at approximately $6,317,630. The trade was a 9.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 582,759 shares of company stock valued at $29,838,424 over the last 90 days. 24.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TEM shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Tempus AI in a research report on Wednesday, June 17th. HC Wainwright decreased their price objective on shares of Tempus AI from $95.00 to $64.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Tempus AI from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Jefferies Financial Group initiated coverage on shares of Tempus AI in a research note on Monday, April 13th. They set an "underperform" rating and a $35.00 price objective for the company. Finally, Guggenheim dropped their target price on shares of Tempus AI from $95.00 to $60.00 and set a "buy" rating for the company in a report on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $68.54.

Tempus AI Trading Up 7.4%

NASDAQ:TEM opened at $61.50 on Friday. The company has a 50-day moving average price of $51.12 and a 200-day moving average price of $54.33. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of -35.76 and a beta of 3.46. The company has a current ratio of 3.31, a quick ratio of 3.15 and a debt-to-equity ratio of 2.96. Tempus AI, Inc. has a 12 month low of $41.73 and a 12 month high of $104.32.

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

About Tempus AI

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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