DnB Asset Management AS Takes $641,000 Position in Tempus AI, Inc. (NASDAQ:TEM)

DnB Asset Management AS bought a new position in shares of Tempus AI, Inc. (NASDAQ:TEM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,984 shares of the company’s stock, valued at approximately $641,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares during the period. 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 purchased a new position in Tempus AI during the fourth quarter worth about $34,000. First Horizon Advisors Inc. lifted its position in Tempus AI by 207.9% in the fourth 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 during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Tempus AI in the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TEM. Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Loop Capital reduced their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Piper Sandler dropped their target price on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, TD Cowen reissued a “buy” rating and set a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and an average price target of $61.18.

Insider Activity

In other Tempus AI news, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the sale, the chief executive officer now owns 4,895,589 shares in the company, valued at $287,615,853.75. The trade was a 39.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the transaction, the insider now owns 15,993,729 shares in the company, valued at approximately $566,977,693.05. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,601,969 shares of company stock valued at $317,330,782 over the last 90 days.

Tempus AI Trading Up 5.7 %

Tempus AI stock opened at $49.89 on Thursday. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The stock has a 50-day moving average price of $58.62 and a 200 day moving average price of $51.55. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45.

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.