Nikko Asset Management Americas Inc. Grows Stake in Tempus AI, Inc. (NASDAQ:TEM)

Nikko Asset Management Americas Inc. increased its position in Tempus AI, Inc. (NASDAQ:TEM) by 166.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,239,093 shares of the company’s stock after acquiring an additional 2,021,394 shares during the period. Tempus AI comprises about 1.2% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 24th biggest holding. Nikko Asset Management Americas Inc. owned 2.06% of Tempus AI worth $109,352,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the 3rd quarter worth $30,000. Farther Finance Advisors LLC purchased a new position in Tempus AI during the fourth quarter valued at $34,000. FNY Investment Advisers LLC purchased a new position in Tempus AI during the fourth quarter valued at $67,000. IFP Advisors Inc purchased a new stake in Tempus AI in the fourth quarter worth about $76,000. Finally, US Bancorp DE bought a new position in shares of Tempus AI in the fourth quarter worth about $80,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Morgan Stanley upped their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and raised their price target for the company from $50.00 to $55.00 in a report on Tuesday, February 25th. Finally, Needham & Company LLC upped their price objective on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Up 11.9 %

Shares of TEM opened at $47.17 on Monday. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. Tempus AI, Inc. has a 1 year low of $22.89 and a 1 year high of $91.45. The business’s 50 day simple moving average is $55.33 and its 200-day simple moving average is $51.65.

Insider Buying and Selling

In other news, major shareholder Bradley A. Keywell sold 170,720 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total value of $6,052,024.00. Following the sale, the insider now directly owns 15,993,729 shares in the company, valued at $566,977,693.05. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction of $826,200.00. Following the sale, the chief accounting officer now owns 57,237 shares in the company, valued at $3,434,220. This represents a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,749,469 shares of company stock worth $322,529,733.

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.