Vanguard Group Inc. Buys 5,900,668 Shares of Tempus AI, Inc. $TEM

Vanguard Group Inc. grew its stake in Tempus AI, Inc. (NASDAQ:TEM) by 6,247.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,995,117 shares of the company’s stock after purchasing an additional 5,900,668 shares during the period. Vanguard Group Inc. owned approximately 3.48% of Tempus AI worth $289,204,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in shares of Tempus AI by 13.2% during the 4th 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 last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Tempus AI by 157.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 44,119 shares of the company’s stock worth $1,489,000 after acquiring an additional 26,998 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tempus AI during the 4th quarter worth approximately $3,757,000. NewEdge Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter worth approximately $49,000. Finally, Marshall Wace LLP bought a new stake in shares of Tempus AI during the 4th quarter worth approximately $14,814,000. 24.22% of the stock is owned by institutional investors.

Insider Activity at Tempus AI

In related news, EVP Erik Phelps sold 51,317 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the transaction, the executive vice president directly owned 97,779 shares of the company’s stock, valued at $7,094,844.24. This represents a 34.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total value of $17,517,500.00. Following the transaction, the chief executive officer directly owned 9,357,283 shares in the company, valued at $655,664,819.81. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 802,772 shares of company stock worth $54,080,775 over the last ninety days. Corporate insiders own 27.60% of the company’s stock.

Tempus AI Trading Up 3.1%

Shares of NASDAQ:TEM opened at $73.78 on Monday. Tempus AI, Inc. has a 12-month low of $31.36 and a 12-month high of $91.45. The business’s fifty day simple moving average is $63.13 and its 200-day simple moving average is $58.64. The company has a market capitalization of $12.82 billion, a PE ratio of -62.00 and a beta of 4.98. The company has a current ratio of 1.54, a quick ratio of 1.43 and a debt-to-equity ratio of 2.58.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TEM shares. Morgan Stanley raised their price target on Tempus AI from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. BTIG Research started coverage on Tempus AI in a report on Friday, August 8th. They set a “buy” rating and a $60.00 price objective on the stock. Bank of America raised their price objective on Tempus AI from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Guggenheim raised their price objective on Tempus AI from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Finally, Piper Sandler restated a “neutral” rating on shares of Tempus AI in a report on Friday, August 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.36.

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.