Bank of New York Mellon Corp Takes $1.62 Million Position in Tempus AI, Inc. (NASDAQ:TEM)

Bank of New York Mellon Corp purchased a new stake in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 47,823 shares of the company's stock, valued at approximately $1,615,000.

Other large investors have also recently modified their holdings of the company. NEA Management Company LLC increased its holdings in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock worth $304,846,000 after buying an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after acquiring an additional 2,021,394 shares during the period. Franklin Resources Inc. raised its holdings in shares of Tempus AI by 1.0% during the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company's stock valued at $45,920,000 after purchasing an additional 8,387 shares during the last quarter. Tidal Investments LLC bought a new position in Tempus AI during the third quarter valued at approximately $7,633,000. Finally, Geode Capital Management LLC boosted its holdings in Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company's stock worth $7,537,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Trading Down 9.1 %

Shares of NASDAQ:TEM traded down $5.32 during trading hours on Wednesday, hitting $53.25. The company's stock had a trading volume of 9,274,014 shares, compared to its average volume of 5,168,096. The firm's fifty day moving average price is $57.42 and its 200 day moving average price is $51.46. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wolfe Research downgraded Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered shares of Tempus AI from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. Piper Sandler decreased their price target on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Needham & Company LLC boosted their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.18.

Insider Transactions at Tempus AI

In related news, COO Ryan Fukushima sold 20,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total transaction of $792,200.00. Following the sale, the chief operating officer now directly owns 982,442 shares of the company's stock, valued at $38,914,527.62. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James William Rogers sold 23,030 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $45.97, for a total transaction of $1,058,689.10. Following the completion of the transaction, the chief financial officer now owns 164,750 shares of the company's stock, valued at approximately $7,573,557.50. This represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,598,969 shares of company stock valued at $317,194,162.

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.