Tempus AI, Inc. $TEM Stock: Sumitomo Mitsui Trust Group Inc. Reduces Stake

Key Points

• Sumitomo Mitsui Trust Group reduced its Tempus AI stake by 16.8% in the third quarter, selling 688,152 shares and retaining 3.4 million shares worth approximately $278.5 million. Institutional investors and hedge funds own 24.22% of the company.
• Tempus AI reported quarterly revenue of $382.49 million, up 21.6% year over year, and an adjusted loss of $0.04 per share that beat analyst expectations. The company remains unprofitable, with a negative net margin of 17.77%.
• Analyst sentiment is mixed but improving: the stock carries an average “Hold” rating and a $72.47 target price, while recent price targets ranged from $68 to $95. TEM was trading at $72.22, near the consensus target.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 16.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,400,877 shares of the company's stock after selling 688,152 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.88% of Tempus AI worth $278,532,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Tempus AI during the third quarter worth about $5,333,000. ProShare Advisors LLC increased its stake in shares of Tempus AI by 5.9% in the 3rd quarter. ProShare Advisors LLC now owns 6,500 shares of the company's stock valued at $532,000 after acquiring an additional 360 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Tempus AI in the 3rd quarter valued at about $235,000. International Assets Investment Management LLC increased its stake in shares of Tempus AI by 3,027.6% in the 3rd quarter. International Assets Investment Management LLC now owns 104,555 shares of the company's stock valued at $8,563,000 after acquiring an additional 101,212 shares during the last quarter. Finally, Partners Wealth Management LLC acquired a new stake in shares of Tempus AI in the 3rd quarter valued at approximately $241,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Tempus AI Price Performance

TEM stock opened at $72.22 on Friday. The stock has a 50-day moving average price of $70.69 and a two-hundred day moving average price of $57.07. The stock has a market cap of $13.03 billion, a PE ratio of -50.15 and a beta of 3.54. The company has a current ratio of 3.30, a quick ratio of 3.16 and a debt-to-equity ratio of 3.06. Tempus AI, Inc. has a 1 year low of $40.77 and a 1 year high of $90.53.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $382.49 million for the quarter, compared to the consensus estimate of $379.69 million. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%. The company's revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) EPS. Equities analysts forecast that Tempus AI, Inc. will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tempus AI news, Director Nadja West sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $69.00, for a total transaction of $207,000.00. Following the completion of the transaction, the director owned 31,981 shares of the company's stock, valued at $2,206,689. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Polovin sold 2,951 shares of the company's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $75.00, for a total value of $221,325.00. Following the transaction, the executive vice president directly owned 135,189 shares of the company's stock, valued at approximately $10,139,175. This trade represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,280,965 shares of company stock worth $87,472,564 in the last 90 days. Company insiders own 24.26% of the company's stock.

Analyst Ratings Changes

TEM has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of Tempus AI from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Guggenheim boosted their price objective on shares of Tempus AI from $65.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Wall Street Zen raised shares of Tempus AI from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Tempus AI from $45.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, October 14th. Finally, HC Wainwright lifted their target price on Tempus AI from $66.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, October 26th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $72.47.

About Tempus AI

Tempus AI, Inc is a healthcare technology company that uses artificial intelligence and data analytics to support precision medicine. The company combines clinical, molecular and imaging data to help physicians make more informed treatment decisions and to help researchers and biopharmaceutical companies develop therapies.

Its offerings include genomic testing and analysis, such as tissue- and blood-based tests, as well as software tools designed to assist with clinical decision-making, patient matching for clinical trials and the management of healthcare data.

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