US Bancorp DE Purchases 1,067 Shares of Tempus AI, Inc. (NASDAQ:TEM)

US Bancorp DE lifted its position in Tempus AI, Inc. (NASDAQ:TEM) by 44.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,442 shares of the company’s stock after buying an additional 1,067 shares during the period. US Bancorp DE’s holdings in Tempus AI were worth $166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEM. Pathway Capital Management LP bought a new position in Tempus AI during the first quarter valued at approximately $8,576,000. Wells Fargo & Company MN raised its position in 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 period. SeaCrest Wealth Management LLC bought a new position in Tempus AI in the first quarter worth approximately $535,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of 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 worth $205,284,000 after purchasing an additional 1,016,384 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Tempus AI by 92.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 578,890 shares of the company’s stock worth $27,926,000 after purchasing an additional 278,311 shares in the last quarter. Institutional investors own 24.22% of the company’s stock.

Wall Street Analysts Forecast Growth

TEM has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Tempus AI in a research note on Friday, August 8th. BTIG Research assumed coverage on shares of Tempus AI in a research report on Friday, August 8th. They set a “buy” rating and a $60.00 price objective for the company. 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 research report on Monday, June 30th. Piper Sandler restated a “neutral” rating on shares of Tempus AI in a report on Friday, August 8th. Finally, Bank of America raised their target price on shares of Tempus AI from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.36.

Tempus AI Trading Up 3.1%

NASDAQ TEM opened at $73.78 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.56 and a current ratio of 1.54. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of -62.00 and a beta of 4.98. The company’s 50-day simple moving average is $63.13 and its two-hundred day simple moving average is $58.63. Tempus AI, Inc. has a one year low of $31.36 and a one year high of $91.45.

Tempus AI (NASDAQ:TEM) last posted its earnings results on Friday, August 8th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $314.64 million for the quarter, compared to the consensus estimate of $296.84 million. Tempus AI had a negative net margin of 20.98% and a negative return on equity of 122.86%. The company’s revenue for the quarter was up 89.5% on a year-over-year basis. During the same quarter last year, the firm posted ($6.86) EPS. Equities analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Transactions at Tempus AI

In other news, EVP Erik Phelps sold 51,317 shares of Tempus AI stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $72.56, for a total value of $3,723,561.52. Following the transaction, the executive vice president owned 97,779 shares of the company’s stock, valued at $7,094,844.24. The trade was a 34.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore Leonsis sold 205,847 shares of Tempus AI stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 15,511 shares in the company, valued at approximately $1,049,474.26. The trade was a 92.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 802,772 shares of company stock worth $54,080,775. 27.60% of the stock is owned by corporate insiders.

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.