Avanza Fonder AB Grows Stock Holdings in Tempus AI, Inc. (NASDAQ:TEM)

Avanza Fonder AB raised its stake in shares of Tempus AI, Inc. (NASDAQ:TEM) by 15.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,005 shares of the company’s stock after acquiring an additional 5,591 shares during the period. Avanza Fonder AB’s holdings in Tempus AI were worth $2,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TEM. Wells Fargo & Company MN lifted its stake in shares of Tempus AI by 13.2% in 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 period. Operose Advisors LLC purchased a new position in Tempus AI during the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC raised its holdings in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after purchasing an additional 965 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in Tempus AI in the fourth quarter valued at about $34,000. Finally, First Horizon Advisors Inc. boosted its holdings in Tempus AI by 207.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock valued at $55,000 after purchasing an additional 1,108 shares in the last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total transaction of $603,947.30. Following the completion of the sale, the executive vice president now directly owns 154,171 shares in the company, valued at $7,088,782.58. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ryan M. Bartolucci sold 6,073 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $63.23, for a total transaction of $383,995.79. Following the completion of the transaction, the chief accounting officer now directly owns 47,799 shares of the company’s stock, valued at approximately $3,022,330.77. This represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,888 shares of company stock worth $7,938,111 in the last ninety days. Insiders own 27.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEM. Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Bank of America increased their price objective on Tempus AI from $48.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Morgan Stanley upped their price target on shares of Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, BTIG Research assumed coverage on shares of Tempus AI in a research note on Monday, April 21st. They issued a “buy” rating and a $60.00 price objective for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and an average target price of $63.42.

Tempus AI Price Performance

Tempus AI stock opened at $70.78 on Thursday. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The firm’s 50-day simple moving average is $54.65 and its 200 day simple moving average is $52.33. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45. The firm has a market capitalization of $12.25 billion and a PE ratio of -9.07.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. The business had revenue of $255.74 million during the quarter, compared to analysts’ expectations of $248.13 million. The firm’s revenue was up 75.4% compared to the same quarter last year. On average, equities research analysts predict that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

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.