Envestnet Asset Management Inc. Acquires 16,328 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Envestnet Asset Management Inc. grew its stake in shares of Tempus AI, Inc. (NASDAQ:TEM) by 37.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,447 shares of the company’s stock after buying an additional 16,328 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Tempus AI were worth $2,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEM. Bank of New York Mellon Corp increased its position in shares of Tempus AI by 27.5% during the first quarter. Bank of New York Mellon Corp now owns 60,965 shares of the company’s stock valued at $2,941,000 after buying an additional 13,142 shares during the period. Huntleigh Advisors Inc. purchased a new position in shares of Tempus AI during the first quarter valued at approximately $404,000. GF Fund Management CO. LTD. grew its holdings in shares of Tempus AI by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 3,902 shares of the company’s stock valued at $188,000 after buying an additional 702 shares during the last quarter. Calamos Advisors LLC purchased a new position in Tempus AI in the 1st quarter worth approximately $327,000. Finally, Clarity Capital Partners LLC purchased a new position in Tempus AI in the 1st quarter worth approximately $2,341,000. 24.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Tempus AI Stock Performance

Tempus AI stock opened at $64.49 on Monday. The company has a 50 day moving average price of $62.80 and a 200-day moving average price of $56.78. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. Tempus AI, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $91.45. The company has a market capitalization of $11.16 billion and a PE ratio of -8.27.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to the consensus estimate 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 for the quarter was up 75.4% compared to the same quarter last year. As a group, equities analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $52.36, for a total transaction of $1,047,200.00. Following the sale, the chief operating officer directly owned 884,460 shares of the company’s stock, valued at $46,310,325.60. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Erik Phelps sold 51,317 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the sale, the executive vice president directly owned 97,779 shares in the company, valued at $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. In the last ninety days, insiders sold 612,522 shares of company stock valued at $41,600,238. 27.60% of the stock is currently owned by company insiders.

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.