Sumitomo Mitsui Trust Group Inc. Buys 1,145,698 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 1,591.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,217,699 shares of the company's stock after acquiring an additional 1,145,698 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.79% of Tempus AI worth $68,922,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vestor Capital LLC acquired a new position in shares of Tempus AI in the third quarter worth approximately $153,000. Sandia Investment Management LP bought a new position in Tempus AI during the 2nd quarter worth approximately $136,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Tempus AI in the 3rd quarter worth approximately $258,000. Clarus Group Inc. bought a new position in Tempus AI during the third quarter worth $283,000. Finally, GSA Capital Partners LLP acquired a new position in Tempus AI in the third quarter valued at $306,000.

Tempus AI Stock Performance

NASDAQ TEM traded down $4.23 on Friday, hitting $52.40. The stock had a trading volume of 1,598,982 shares, compared to its average volume of 1,193,641. The business has a 50-day moving average of $51.25. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. Tempus AI, Inc. has a 52-week low of $22.89 and a 52-week high of $79.49.

Wall Street Analysts Forecast Growth

TEM has been the topic of a number of recent analyst reports. Piper Sandler reissued a "neutral" rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday. Stifel Nicolaus lowered Tempus AI from a "buy" rating to a "hold" rating and boosted their price target for the company from $45.00 to $65.00 in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Tempus AI from $42.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a "buy" rating and issued a $47.00 price objective on shares of Tempus AI in a research note on Wednesday, August 7th. Finally, Loop Capital increased their target price on shares of Tempus AI from $48.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.22.

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.