Tempus AI, Inc. (NASDAQ:TEM) Shares Sold by Teacher Retirement System of Texas

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

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Tempus AI in the fourth quarter valued at $216,000. Wells Fargo & Company MN increased its position in Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock worth $80,000 after purchasing an additional 278 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Tempus AI during the 1st quarter worth about $535,000. Sumitomo Mitsui Trust Group Inc. increased its position in Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after purchasing an additional 1,016,384 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Tempus AI during the 1st quarter worth about $1,019,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Trading Down 4.6%

Shares of NASDAQ TEM traded down $2.72 during midday trading on Friday, hitting $56.88. The stock had a trading volume of 8,009,649 shares, compared to its average volume of 7,497,253. The company has a market capitalization of $9.85 billion and a price-to-earnings ratio of -7.29. Tempus AI, Inc. has a 1-year low of $31.36 and a 1-year high of $91.45. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45. The company has a fifty day moving average price of $62.98 and a 200 day moving average price of $54.65.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.03. The business had revenue of $255.74 million for 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 quarterly revenue was up 75.4% compared to the same quarter last year. On average, analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on TEM. Guggenheim lifted their price objective on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. BTIG Research began coverage on Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. Bank of America lifted their price objective on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Finally, Piper Sandler raised their price target on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI has a consensus rating of "Moderate Buy" and an average target price of $65.09.

Insiders Place Their Bets

In other news, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ryan Fukushima sold 20,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total transaction of $1,047,200.00. Following the transaction, the chief operating officer directly owned 884,460 shares in the company, valued at approximately $46,310,325.60. The trade was a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 612,522 shares of company stock worth $41,600,238. 27.60% of the stock is owned by insiders.

Tempus AI Company 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.