Avanza Fonder AB Acquires New Position in Tempus AI, Inc. (NASDAQ:TEM)

Avanza Fonder AB purchased a new position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 35,414 shares of the company's stock, valued at approximately $1,197,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC acquired a new position in Tempus AI in the third quarter valued at approximately $1,367,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 1,591.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock valued at $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Tempus AI during the 3rd quarter worth $2,726,000. Sigma Planning Corp acquired a new stake in shares of Tempus AI during the 3rd quarter worth about $1,323,000. Finally, Dakota Wealth Management purchased a new stake in Tempus AI in the 3rd quarter valued at about $1,185,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEM. Stifel Nicolaus cut shares of Tempus AI from a "buy" rating to a "hold" rating and lifted their price target for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Piper Sandler restated a "neutral" rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price objective on shares of Tempus AI in a report on Tuesday, January 14th. Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Finally, Wolfe Research assumed coverage on shares of Tempus AI in a report on Friday, December 13th. They set an "outperform" rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.36.

Tempus AI Stock Up 1.2 %

NASDAQ TEM traded up $0.40 on Monday, reaching $35.15. The stock had a trading volume of 2,434,717 shares, compared to its average volume of 3,412,584. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The business's 50-day moving average price is $46.03 and its 200 day moving average price is $47.27. Tempus AI, Inc. has a 12-month low of $22.89 and a 12-month high of $79.49.

Insider Activity at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 265,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $35.10, for a total value of $9,301,500.00. Following the transaction, the insider now owns 15,218,365 shares of the company's stock, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total value of $5,101,200.00. Following the sale, the chief operating officer now directly owns 1,007,207 shares of the company's stock, valued at approximately $42,816,369.57. This represents a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,300,761 shares of company stock worth $51,271,197 in the last 90 days.

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.