Tempus AI, Inc. (NASDAQ:TEM) Stock Position Lifted by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. raised its position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 166.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,239,093 shares of the company's stock after purchasing an additional 2,021,394 shares during the period. Tempus AI comprises about 1.2% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 24th largest position. Nikko Asset Management Americas Inc. owned about 2.06% of Tempus AI worth $109,352,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC acquired a new position in Tempus AI in the 4th quarter valued at $34,000. FNY Investment Advisers LLC purchased a new position in shares of Tempus AI during the 4th quarter worth $67,000. IFP Advisors Inc acquired a new stake in shares of Tempus AI during the fourth quarter worth $76,000. Finally, US Bancorp DE purchased a new stake in shares of Tempus AI in the fourth quarter valued at $80,000. 24.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TEM shares. TD Cowen reissued a "buy" rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Guggenheim reissued a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Morgan Stanley boosted their price objective on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Finally, Needham & Company LLC lifted their target price on Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Tempus AI presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.

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Tempus AI Price Performance

NASDAQ:TEM traded up $0.01 during trading hours on Thursday, hitting $48.04. The stock had a trading volume of 8,973,125 shares, compared to its average volume of 5,035,659. The business has a 50 day simple moving average of $55.86 and a two-hundred day simple moving average of $51.48. Tempus AI, Inc. has a 1-year low of $22.89 and a 1-year 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.

Insider Activity at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 170,720 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the completion of the sale, the insider now owns 15,993,729 shares of the company's stock, valued at approximately $566,977,693.05. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the sale, the chief accounting officer now directly owns 57,237 shares in the company, valued at $3,434,220. This represents a 19.39 % 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.