1832 Asset Management L.P. Purchases New Holdings in Tempus AI, Inc. $TEM

1832 Asset Management L.P. acquired a new position in Tempus AI, Inc. (NASDAQ:TEM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 152,400 shares of the company’s stock, valued at approximately $9,683,000. 1832 Asset Management L.P. owned about 0.09% of Tempus AI at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Riverview Capital Advisers LLC raised its position in shares of Tempus AI by 60.3% during the second quarter. Riverview Capital Advisers LLC now owns 46,441 shares of the company’s stock worth $2,951,000 after acquiring an additional 17,469 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in Tempus AI in the second quarter worth about $2,097,000. Norges Bank bought a new stake in Tempus AI during the 2nd quarter worth about $9,024,000. Patient Capital Management LLC acquired a new position in Tempus AI during the 2nd quarter valued at about $24,693,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Tempus AI in the 2nd quarter valued at about $4,407,000. 24.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. HC Wainwright dropped their price target on shares of Tempus AI from $98.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Cowen lowered shares of Tempus AI from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tempus AI in a research report on Wednesday, October 8th. Piper Sandler reduced their price target on Tempus AI from $105.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, BTIG Research lifted their price objective on Tempus AI from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tempus AI currently has an average rating of “Hold” and an average price target of $81.17.

Tempus AI Stock Performance

TEM stock opened at $76.33 on Friday. Tempus AI, Inc. has a 1-year low of $31.36 and a 1-year high of $104.32. The company has a current ratio of 3.28, a quick ratio of 3.12 and a debt-to-equity ratio of 2.45. The firm has a market cap of $13.58 billion, a PE ratio of -64.14 and a beta of 4.99. The business’s 50-day moving average price is $82.12 and its two-hundred day moving average price is $72.84.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. Tempus AI had a negative return on equity of 73.21% and a negative net margin of 18.45%.The company had revenue of $334.21 million during the quarter, compared to the consensus estimate of $328.89 million. During the same period in the prior year, the company earned ($0.46) earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, research analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Activity

In other news, Director Jennifer A. Doudna sold 676 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $75.55, for a total transaction of $51,071.80. Following the completion of the sale, the director owned 23,952 shares of the company’s stock, valued at $1,809,573.60. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Polovin sold 12,874 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $75.00, for a total transaction of $965,550.00. Following the sale, the executive vice president owned 107,590 shares in the company, valued at approximately $8,069,250. The trade was a 10.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,077,814 shares of company stock worth $84,592,895. Corporate insiders own 26.27% of the company’s stock.

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.