Teacher Retirement System of Texas Sells 321,639 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Teacher Retirement System of Texas lowered its position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 80.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,361 shares of the company's stock after selling 321,639 shares during the period. Teacher Retirement System of Texas' holdings in Tempus AI were worth $3,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TEM. Nikko Asset Management Americas Inc. raised its holdings in shares of Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after purchasing an additional 1,950,862 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. Norges Bank purchased a new stake in shares of Tempus AI in the fourth quarter valued at about $34,681,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI by 31.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock valued at $205,284,000 after purchasing an additional 1,016,384 shares during the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Stock Performance

NASDAQ:TEM traded up $1.19 on Thursday, reaching $59.60. 8,302,801 shares of the company's stock were exchanged, compared to its average volume of 7,495,063. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56. The firm has a market cap of $10.32 billion and a price-to-earnings ratio of -7.64. Tempus AI, Inc. has a 52 week low of $31.36 and a 52 week high of $91.45. The stock has a fifty day simple moving average of $62.98 and a 200-day simple moving average of $54.65.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping 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 net margin of 88.27% and a negative return on equity of 533.21%. The company's quarterly revenue was up 75.4% compared to the same quarter last year. As a group, sell-side analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Activity

In other Tempus AI news, CEO Eric P. Lefkofsky sold 250,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the completion of the transaction, the chief executive officer owned 9,357,283 shares in the company, valued at $655,664,819.81. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore Leonsis sold 205,847 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the transaction, the director owned 15,511 shares of the company's stock, valued at $1,049,474.26. This represents a 92.99% decrease in their position. The disclosure for this sale can be found here. Over 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 corporate insiders.

Analysts Set New Price Targets

TEM has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a report on Wednesday, May 7th. Piper Sandler increased their target price on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Guggenheim increased their price target on shares of Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Bank of America increased their price target on shares of Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Finally, BTIG Research started coverage on shares of Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Tempus AI currently has a consensus rating of "Moderate Buy" and a consensus 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.