Victory Capital Management Inc. Buys Shares of 6,404 Tempus AI, Inc. (NASDAQ:TEM)

Victory Capital Management Inc. bought a new position in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,404 shares of the company's stock, valued at approximately $216,000.

Several other large investors also recently modified their holdings of the business. First Horizon Advisors Inc. bought a new position in Tempus AI in the 3rd quarter worth $30,000. FNY Investment Advisers LLC purchased a new position in shares of Tempus AI during the fourth quarter valued at about $67,000. IFP Advisors Inc bought a new position in Tempus AI in the fourth quarter worth about $76,000. US Bancorp DE purchased a new stake in Tempus AI in the fourth quarter worth about $80,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Tempus AI during the 4th quarter valued at approximately $178,000. 24.22% of the stock is owned by institutional investors.

Tempus AI Stock Performance

Tempus AI stock traded down $5.32 during trading hours on Wednesday, hitting $53.25. The stock had a trading volume of 10,376,476 shares, compared to its average volume of 5,173,853. The stock's 50-day moving average price is $57.78 and its 200-day moving average price is $51.47. Tempus AI, Inc. has a 12-month low of $22.89 and a 12-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.

Insider Activity at Tempus AI

In related news, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now directly owns 154,171 shares in the company, valued at approximately $7,088,782.58. This trade represents a 7.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nadja West sold 809 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total transaction of $41,347.99. Following the transaction, the director now owns 37,705 shares in the company, valued at $1,927,102.55. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,598,969 shares of company stock valued at $317,194,162 over the last 90 days.

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Analyst Ratings Changes

Several brokerages have recently issued reports on TEM. William Blair reissued a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Needham & Company LLC upped their price target on Tempus AI from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Guggenheim reissued a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Loop Capital reduced their target price on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, TD Cowen reiterated 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.18.

About Tempus AI

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.