JPMorgan Chase & Co. Increases Stock Position in Tempus AI, Inc. (NASDAQ:TEM)

JPMorgan Chase & Co. raised its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 86,947.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,653,896 shares of the company's stock after buying an additional 1,651,996 shares during the quarter. JPMorgan Chase & Co. owned about 1.05% of Tempus AI worth $55,836,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TEM. The Manufacturers Life Insurance Company grew its stake in shares of Tempus AI by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company's stock valued at $1,686,000 after buying an additional 2,765 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Tempus AI in the 3rd quarter valued at about $725,000. Stifel Financial Corp purchased a new stake in Tempus AI during the third quarter worth about $218,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tempus AI during the third quarter worth about $1,367,000. Finally, XTX Topco Ltd purchased a new position in shares of Tempus AI in the third quarter valued at approximately $502,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Wall Street Analyst Weigh In

TEM has been the topic of a number of research reports. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Morgan Stanley lifted their target price on Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Piper Sandler cut their price target on Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. TD Cowen reiterated a "buy" rating and issued a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Finally, 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 note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Tempus AI presently has an average rating of "Moderate Buy" and an average price target of $61.18.

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Tempus AI Stock Performance

Shares of TEM traded down $3.52 during midday trading on Tuesday, reaching $39.18. 9,963,677 shares of the stock were exchanged, compared to its average volume of 5,389,650. Tempus AI, Inc. has a twelve month low of $22.89 and a twelve month high of $91.45. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business's 50-day moving average price is $58.09 and its 200 day moving average price is $51.40.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the transaction, the director now owns 26,514 shares of the company's stock, valued at $1,207,447.56. This trade represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the sale, the insider now directly owns 15,218,365 shares of the company's stock, valued at approximately $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,581,969 shares of company stock valued at $316,538,582 over the last quarter.

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.