ARK Investment Management LLC Raises Holdings in Tempus AI, Inc. (NASDAQ:TEM)

ARK Investment Management LLC increased its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 355.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,378,157 shares of the company's stock after purchasing an additional 1,855,459 shares during the period. Tempus AI accounts for 1.2% of ARK Investment Management LLC's portfolio, making the stock its 25th largest holding. ARK Investment Management LLC owned about 1.54% of Tempus AI worth $134,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TEM. NEA Management Company LLC acquired a new stake in shares of Tempus AI during the 2nd quarter valued at $160,048,000. Novo Holdings A S purchased a new position in Tempus AI in the second quarter worth $142,605,000. Revolution Growth Management Company Inc. purchased a new position in shares of Tempus AI in the second quarter worth $128,133,000. Alphabet Inc. bought a new stake in Tempus AI during the 2nd quarter valued at approximately $54,289,000. Finally, Lingotto Investment Management LLP purchased a new stake in shares of Tempus AI during the second quarter valued at approximately $32,685,000.

Tempus AI Trading Up 29.9 %

Shares of TEM traded up $16.98 during mid-day trading on Friday, reaching $73.77. The company's stock had a trading volume of 3,012,341 shares, compared to its average volume of 1,173,509. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $77.00. The company has a debt-to-equity ratio of 8.17, a quick ratio of 3.52 and a current ratio of 2.69. The stock's fifty day moving average price is $49.93.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The company had revenue of $165.97 million during the quarter, compared to the consensus estimate of $159.10 million. As a group, equities research analysts forecast that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Tempus AI from $42.00 to $47.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Bank of America lowered shares of Tempus AI from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Piper Sandler started coverage on shares of Tempus AI in a research note on Monday, August 12th. They set a "neutral" rating and a $40.00 price target on the stock. Finally, Loop Capital upped their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $48.67.

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.