Vestmark Advisory Solutions Inc. Acquires 44,548 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Vestmark Advisory Solutions Inc. grew its holdings in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 36.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,998 shares of the company's stock after acquiring an additional 44,548 shares during the quarter. Vestmark Advisory Solutions Inc. owned 0.10% of Tempus AI worth $8,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. bought a new position in Tempus AI in the first quarter worth $348,000. Caitong International Asset Management Co. Ltd lifted its position in Tempus AI by 27,717.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 14,187 shares of the company's stock worth $684,000 after purchasing an additional 14,136 shares during the period. Russell Investments Group Ltd. bought a new position in Tempus AI in the first quarter worth $260,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Tempus AI in the first quarter worth $311,000. Finally, HighTower Advisors LLC bought a new position in Tempus AI in the first quarter worth $320,000. 24.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Eric P. Lefkofsky sold 166,250 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $62.87, for a total value of $10,452,137.50. Following the completion of the sale, the chief executive officer directly owned 9,274,033 shares in the company, valued at approximately $583,058,454.71. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Theodore Leonsis sold 205,847 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $67.66, for a total value of $13,927,608.02. Following the completion of the sale, the director owned 15,511 shares of the company's stock, valued at approximately $1,049,474.26. This trade represents a 92.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 758,772 shares of company stock valued at $51,005,175 in the last 90 days. 27.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TEM shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a research report on Friday, August 8th. Bank of America raised their target price on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Morgan Stanley increased their price objective on Tempus AI from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday. BTIG Research started coverage on Tempus AI in a research note on Friday, August 8th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Piper Sandler reiterated a "neutral" rating on shares of Tempus AI in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Tempus AI has an average rating of "Moderate Buy" and an average target price of $65.36.

Tempus AI Stock Performance

Tempus AI stock opened at $71.59 on Friday. Tempus AI, Inc. has a 52-week low of $31.36 and a 52-week high of $91.45. The firm has a market capitalization of $12.39 billion, a P/E ratio of -60.16 and a beta of 4.98. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.54 and a quick ratio of 1.56. The stock has a fifty day moving average price of $62.90 and a two-hundred day moving average price of $58.41.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%. The company had revenue of $314.64 million during the quarter, compared to analyst estimates of $296.84 million. During the same period last year, the company posted ($6.86) earnings per share. The firm's quarterly revenue was up 89.5% compared to the same quarter last year. As a group, analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

About Tempus AI

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.

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