Franklin Resources Inc. Acquires 1,950,862 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Franklin Resources Inc. increased its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 240.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,762,173 shares of the company's stock after purchasing an additional 1,950,862 shares during the quarter. Franklin Resources Inc. owned 1.75% of Tempus AI worth $93,251,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TEM. Geode Capital Management LLC raised its position 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 valued at $7,537,000 after purchasing an additional 539 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after acquiring an additional 965 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in Tempus AI in the fourth quarter valued at $34,000. First Horizon Advisors Inc. boosted its stake in Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after acquiring an additional 1,108 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Tempus AI during the 4th quarter worth $67,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Trading Down 7.8 %

NASDAQ TEM traded down $3.59 during trading on Friday, reaching $42.58. 11,548,799 shares of the company traded hands, compared to its average volume of 5,329,072. 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 stock's 50 day moving average price is $58.45 and its two-hundred day moving average price is $51.51.

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Insider Buying and Selling

In other Tempus AI news, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $90.00, for a total value of $118,800.00. Following the completion of the sale, the director now directly owns 36,011 shares in the company, valued at $3,240,990. This represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the sale, the director now owns 26,514 shares in the company, valued at $1,207,447.56. The trade was a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,601,969 shares of company stock worth $317,330,782 in the last three months.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TEM shares. JPMorgan Chase & Co. downgraded Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $50.00 to $55.00 in a report on Tuesday, February 25th. William Blair reissued a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. TD Cowen reaffirmed a "buy" rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Wolfe Research downgraded shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.

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.