Balyasny Asset Management L.P. Purchases 34,751 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Balyasny Asset Management L.P. increased its position in shares of Tempus AI, Inc. (NASDAQ:TEM) by 514.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,501 shares of the company’s stock after purchasing an additional 34,751 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Tempus AI were worth $1,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Tempus AI by 13.2% in 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 during the last quarter. Operose Advisors LLC bought a new position in Tempus AI in the 4th quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its holdings in Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after buying an additional 965 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Tempus AI in the 4th quarter valued at approximately $34,000. Finally, First Horizon Advisors Inc. increased its position in Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock valued at $55,000 after purchasing an additional 1,108 shares during the period. Institutional investors own 24.22% of the company’s stock.

Tempus AI Trading Up 9.9%

Shares of TEM opened at $68.91 on Wednesday. The business has a 50-day moving average of $48.99 and a 200 day moving average of $51.30. Tempus AI, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $91.45. The firm has a market cap of $11.87 billion and a P/E ratio of -8.83. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Tempus AI (NASDAQ:TEM) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. The company had revenue of $255.74 million for the quarter, compared to analysts’ expectations of $248.13 million. The firm’s revenue was up 75.4% on a year-over-year basis. As a group, research analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on TEM shares. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Tempus AI in a research report on Wednesday, May 7th. TD Cowen reiterated a “buy” rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler cut their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, BTIG Research initiated coverage on Tempus AI in a research note on Monday, April 21st. They set a “buy” rating and a $60.00 target price on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.50.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the sale, the director now owns 26,514 shares in the company, valued at $1,207,447.56. The trade was a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Polovin sold 13,135 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now owns 154,171 shares of the company’s stock, valued at $7,088,782.58. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,152,613 shares of company stock worth $245,262,272. 27.60% of the stock is currently owned by insiders.

Tempus AI 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.