Tempus AI, Inc. $TEM Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in Tempus AI, Inc. (NASDAQ:TEM) by 707.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,716 shares of the company’s stock after acquiring an additional 4,132 shares during the period. PNC Financial Services Group Inc.’s holdings in Tempus AI were worth $228,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TEM. Cherry Tree Wealth Management LLC acquired a new position in shares of Tempus AI in the first quarter worth about $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Tempus AI during the 1st quarter worth about $33,000. Continuum Advisory LLC acquired a new position in shares of Tempus AI during the 1st quarter worth about $39,000. Bartlett & CO. Wealth Management LLC raised its position in shares of Tempus AI by 100.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock worth $39,000 after purchasing an additional 400 shares during the last quarter. Finally, Nemes Rush Group LLC acquired a new position in shares of Tempus AI during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Analysts Set New Price Targets

TEM has been the subject of several research analyst reports. Guggenheim upped their price target on shares of Tempus AI from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. BTIG Research initiated coverage on shares of Tempus AI in a research report on Friday, August 8th. They set a “buy” rating and a $60.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Tempus AI in a research report on Friday, August 8th. Morgan Stanley upped their price target on shares of Tempus AI from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Finally, Bank of America increased their price objective on shares of Tempus AI from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, June 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.36.

Insider Activity at Tempus AI

In other Tempus AI news, Director Theodore Leonsis sold 44,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $69.90, for a total transaction of $3,075,600.00. Following the sale, the director directly owned 86,756 shares in the company, valued at $6,064,244.40. This represents a 33.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer A. Doudna sold 625 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $62.52, for a total transaction of $39,075.00. Following the sale, the director owned 26,554 shares in the company, valued at approximately $1,660,156.08. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 802,772 shares of company stock worth $54,080,775 over the last 90 days. 27.60% of the stock is currently owned by corporate insiders.

Tempus AI Stock Performance

NASDAQ:TEM opened at $73.78 on Monday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.43 and a current ratio of 1.54. The stock has a market capitalization of $12.82 billion, a P/E ratio of -62.00 and a beta of 4.98. The company has a 50 day moving average price of $63.13 and a 200 day moving average price of $58.64. Tempus AI, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $91.45.

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

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.