Sumitomo Mitsui Trust Group Inc. Increases Holdings in Tempus AI, Inc. $TEM

Sumitomo Mitsui Trust Group Inc. grew its stake in Tempus AI, Inc. (NASDAQ:TEM) by 23.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,326,313 shares of the company’s stock after acquiring an additional 821,490 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tempus AI were worth $195,636,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Axxcess Wealth Management LLC increased its holdings in shares of Tempus AI by 26.0% during the first quarter. Axxcess Wealth Management LLC now owns 10,454 shares of the company’s stock valued at $473,000 after acquiring an additional 2,154 shares in the last quarter. Whittier Trust Co. increased its stake in Tempus AI by 190.0% during the 1st quarter. Whittier Trust Co. now owns 870 shares of the company’s stock valued at $41,000 after purchasing an additional 570 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Tempus AI during the 1st quarter valued at about $85,000. Baer Investment Advisory LLC purchased a new position in Tempus AI in the first quarter worth about $1,005,000. Finally, Leonteq Securities AG raised its holdings in Tempus AI by 1,336.8% in the first quarter. Leonteq Securities AG now owns 31,294 shares of the company’s stock worth $1,415,000 after buying an additional 29,116 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

Tempus AI Price Performance

Shares of NASDAQ:TEM opened at $61.50 on Friday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 3.15 and a current ratio of 3.31. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of -35.76 and a beta of 3.46. The business has a 50-day simple moving average of $51.12 and a two-hundred day simple moving average of $54.33. Tempus AI, Inc. has a fifty-two week low of $41.73 and a fifty-two week high of $104.32.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. Tempus AI had a negative net margin of 22.20% and a negative return on equity of 53.83%. The firm had revenue of $348.12 million for the quarter, compared to the consensus estimate of $345.44 million. During the same quarter last year, the firm posted ($0.24) EPS. The business’s quarterly revenue was up 36.1% compared to the same quarter last year. On average, analysts expect that Tempus AI, Inc. will post -1.35 earnings per share for the current year.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 8,703 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total transaction of $383,541.21. Following the completion of the sale, the executive vice president directly owned 128,215 shares in the company, valued at approximately $5,650,435.05. The trade was a 6.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Ryan M. Bartolucci sold 4,116 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total transaction of $181,392.12. Following the sale, the chief accounting officer owned 74,041 shares of the company’s stock, valued at approximately $3,262,986.87. This represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 582,759 shares of company stock valued at $29,838,424 over the last quarter. 24.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

TEM has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Tempus AI in a report on Monday, April 13th. They set an “underperform” rating and a $35.00 price target on the stock. Freedom Capital upgraded shares of Tempus AI to a “hold” rating in a report on Tuesday, June 30th. HC Wainwright lowered their price objective on Tempus AI from $95.00 to $64.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Guggenheim cut their target price on Tempus AI from $95.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, TD Cowen increased their target price on Tempus AI from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Tempus AI has an average rating of “Hold” and an average price target of $68.54.

Tempus AI Company Profile

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.