Avanza Fonder AB Acquires 5,591 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Avanza Fonder AB lifted its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 15.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,005 shares of the company's stock after purchasing an additional 5,591 shares during the period. Avanza Fonder AB's holdings in Tempus AI were worth $2,047,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock worth $80,000 after acquiring an additional 278 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Tempus AI during the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Tempus AI during the 4th quarter worth approximately $34,000. Finally, First Horizon Advisors Inc. increased its stake in Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock worth $55,000 after purchasing an additional 1,108 shares in the last quarter. Institutional investors own 24.22% of the company's stock.

Tempus AI Stock Performance

Tempus AI stock traded up $0.45 during mid-day trading on Thursday, reaching $71.23. 10,662,828 shares of the company's stock were exchanged, compared to its average volume of 6,978,706. The business's fifty day simple moving average is $54.65 and its 200 day simple moving average is $52.33. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. Tempus AI, Inc. has a one year low of $22.89 and a one year high of $91.45. The firm has a market capitalization of $12.33 billion and a PE ratio of -9.13.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. The company's revenue for the quarter was up 75.4% compared to the same quarter last year. On average, sell-side analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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 objective for the company. Guggenheim reissued a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler upped their price objective on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Finally, William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.42.

Insider Activity

In other Tempus AI news, CAO Ryan M. Bartolucci sold 6,073 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.23, for a total value of $383,995.79. Following the completion of the sale, the chief accounting officer now owns 47,799 shares in the company, valued at approximately $3,022,330.77. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James William Rogers sold 23,121 shares of Tempus AI stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $63.27, for a total transaction of $1,462,865.67. Following the completion of the sale, the chief financial officer now owns 146,001 shares in the company, valued at approximately $9,237,483.27. This trade represents a 13.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,888 shares of company stock worth $7,938,111 in the last three months. Corporate insiders own 27.60% of the company's stock.

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.