Wedbush Securities Inc. Invests $571,000 in Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• Wedbush Securities Inc. has invested approximately $571,000 in Tempus AI, purchasing 11,846 shares of the company's stock.
• Multiple large investors, including Pathway Capital Management and Massachusetts Financial Services, have made significant changes to their positions in Tempus AI, indicating strong institutional interest.
• Analysts are optimistic about Tempus AI, with a consensus rating of "Moderate Buy" and a target price of $65.09, with price targets from several analysts reaching as high as $75.00.

Wedbush Securities Inc. purchased a new position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,846 shares of the company's stock, valued at approximately $571,000.

Other large investors have also recently made changes to their positions in the company. Pathway Capital Management LP bought a new position in shares of Tempus AI in the 1st quarter worth $8,576,000. Wells Fargo & Company MN raised its position in shares of Tempus AI by 13.2% in the 4th 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. SeaCrest Wealth Management LLC acquired a new position in Tempus AI during the 1st quarter valued at about $535,000. Sumitomo Mitsui Trust Group Inc. raised its stake in 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 buying an additional 1,016,384 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Tempus AI by 92.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 578,890 shares of the company's stock valued at $27,926,000 after buying an additional 278,311 shares during the last quarter. 24.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Theodore Leonsis sold 205,847 shares of the firm's 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 sale, the director directly owned 15,511 shares of the company's stock, valued at $1,049,474.26. This trade represents a 92.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Erik Phelps sold 51,317 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.56, for a total value of $3,723,561.52. Following the sale, the executive vice president directly owned 97,779 shares in the company, valued at approximately $7,094,844.24. This trade represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 612,522 shares of company stock valued at $41,600,238 over the last 90 days. Company insiders own 27.60% of the company's stock.

Tempus AI Stock Up 1.8%

Shares of TEM stock opened at $64.49 on Friday. The stock's 50-day simple moving average is $62.80 and its 200-day simple moving average is $56.51. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. The firm has a market capitalization of $11.16 billion and a PE ratio of -8.27. Tempus AI, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The firm 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%. The firm's revenue for the quarter was up 75.4% on a year-over-year basis. Equities analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

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.

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