Nemes Rush Group LLC Takes Position in Tempus AI, Inc. (NASDAQ:TEM)

Nemes Rush Group LLC acquired a new stake in shares of Tempus AI, Inc. (NASDAQ:TEM) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 800 shares of the company’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. ARK Investment Management LLC raised its position in Tempus AI by 35.9% in the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company’s stock worth $361,867,000 after purchasing an additional 1,981,755 shares during the period. Franklin Resources Inc. raised its position in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the period. JPMorgan Chase & Co. raised its position in Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after purchasing an additional 1,651,996 shares during the period. Norges Bank purchased a new position in Tempus AI in the 4th quarter worth $34,681,000. Finally, Nikko Asset Management Americas Inc. raised its position in Tempus AI by 31.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company’s stock worth $205,401,000 after purchasing an additional 1,021,460 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TEM. Piper Sandler lifted their target price on shares of Tempus AI from $55.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Bank of America lifted their target price on shares of Tempus AI from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 25th. BTIG Research initiated coverage on shares of Tempus AI in a report on Monday, April 21st. They issued a “buy” rating and a $60.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Tempus AI in a report on Wednesday, May 7th. Finally, Guggenheim raised their price target on shares of Tempus AI from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.09.

Tempus AI Price Performance

Shares of Tempus AI stock opened at $64.49 on Monday. The firm has a market cap of $11.16 billion and a PE ratio of -8.27. Tempus AI, Inc. has a 12-month low of $31.36 and a 12-month high of $91.45. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45. The company’s fifty day simple moving average is $62.80 and its two-hundred day simple moving average is $56.78.

Tempus AI (NASDAQ:TEM) last announced 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 firm had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The business’s revenue was up 75.4% compared to the same quarter last year. As a group, equities analysts expect that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Activity

In other news, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the sale, the chief executive officer owned 9,357,283 shares of the company’s stock, valued at approximately $655,664,819.81. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer A. Doudna sold 625 shares of Tempus AI stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $62.52, for a total transaction of $39,075.00. Following the sale, the director directly owned 26,554 shares in the company, valued at $1,660,156.08. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 612,522 shares of company stock worth $41,600,238. 27.60% of the stock is owned by company 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.