Exchange Traded Concepts LLC Purchases 4,855 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Exchange Traded Concepts LLC boosted its position in Tempus AI, Inc. (NASDAQ:TEM) by 5.8% during the 1st quarter, Holdings Channel reports. The fund owned 89,029 shares of the company’s stock after buying an additional 4,855 shares during the period. Exchange Traded Concepts LLC’s holdings in Tempus AI were worth $4,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TEM. Private Advisor Group LLC bought a new position in Tempus AI in the fourth quarter worth approximately $1,344,000. Sigma Planning Corp raised its stake in shares of Tempus AI by 43.9% in the fourth quarter. Sigma Planning Corp now owns 33,638 shares of the company’s stock worth $1,136,000 after purchasing an additional 10,269 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Tempus AI by 207.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock worth $55,000 after purchasing an additional 1,108 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Tempus AI in the fourth quarter worth approximately $76,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Tempus AI in the fourth quarter worth approximately $1,615,000. Institutional investors own 24.22% of the company’s stock.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, CEO Eric P. Lefkofsky sold 16,752 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $63.21, for a total transaction of $1,058,893.92. Following the completion of the transaction, the chief executive officer now directly owns 4,878,837 shares of the company’s stock, valued at approximately $308,391,286.77. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ryan M. Bartolucci sold 6,073 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $63.23, for a total value of $383,995.79. Following the completion of the transaction, the chief accounting officer now directly owns 47,799 shares of the company’s stock, valued at $3,022,330.77. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,580 shares of company stock valued at $20,156,721. Company insiders own 27.60% of the company’s stock.

Tempus AI Stock Performance

Shares of TEM opened at $72.00 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The company has a market capitalization of $12.46 billion and a price-to-earnings ratio of -9.23. The stock has a 50 day moving average of $56.60 and a 200 day moving average of $52.38. Tempus AI, Inc. has a 12 month low of $22.89 and a 12 month high of $91.45.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million for the quarter, compared to the consensus estimate of $248.13 million. Tempus AI’s revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America increased their price objective on Tempus AI from $48.00 to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. BTIG Research assumed coverage on Tempus AI in a research note on Monday, April 21st. They issued a “buy” rating and a $60.00 price objective for the company. Piper Sandler increased their price objective on Tempus AI from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Finally, Morgan Stanley increased their price objective on Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.42.

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.