Mitsubishi UFJ Asset Management Co. Ltd. Buys 48,300 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 255.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,200 shares of the company's stock after acquiring an additional 48,300 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Tempus AI were worth $2,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its stake in shares of Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the period. Franklin Resources Inc. grew its stake in shares of Tempus AI by 1.0% in the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company's stock worth $45,920,000 after acquiring an additional 8,387 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Tempus AI during the 4th quarter valued at $13,504,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America raised their price target on shares of Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. 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 report on Wednesday, February 5th. Needham & Company LLC boosted their price objective on Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Wolfe Research cut Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tempus AI presently has an average rating of "Moderate Buy" and an average price target of $61.18.

Insider Activity at Tempus AI

In other Tempus AI news, Director Wayne A.I. Frederick sold 3,000 shares of the firm's stock in a transaction dated 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 approximately $1,207,447.56. This trade represents a 10.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the completion of the transaction, the insider now directly owns 15,993,729 shares of the company's stock, valued at approximately $566,977,693.05. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,601,969 shares of company stock valued at $317,330,782 in the last three months.

Tempus AI Price Performance

Shares of NASDAQ:TEM traded down $3.72 during trading on Thursday, reaching $46.17. The stock had a trading volume of 8,110,685 shares, compared to its average volume of 13,244,422. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45. The business's 50-day moving average price is $58.62 and its 200 day moving average price is $51.55. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

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.