Baker Avenue Asset Management LP Invests $2.37 Million in Tempus AI, Inc. $TEM

Baker Avenue Asset Management LP purchased a new position in Tempus AI, Inc. (NASDAQ:TEM) during the fourth quarter, Holdings Channel.com reports. The firm purchased 40,091 shares of the company’s stock, valued at approximately $2,367,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GC Wealth Management RIA LLC acquired a new position in Tempus AI during the fourth quarter valued at $399,267,000. Vanguard Group Inc. increased its holdings in shares of Tempus AI by 22.1% in the 3rd quarter. Vanguard Group Inc. now owns 9,441,607 shares of the company’s stock valued at $762,032,000 after purchasing an additional 1,706,837 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of Tempus AI by 183.0% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,607,083 shares of the company’s stock valued at $129,708,000 after purchasing an additional 1,039,176 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Tempus AI by 312.7% in the third quarter. BNP Paribas Financial Markets now owns 1,274,549 shares of the company’s stock worth $102,869,000 after purchasing an additional 965,730 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Tempus AI in the second quarter worth approximately $54,020,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TEM. HC Wainwright cut their target price on shares of Tempus AI from $95.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on shares of Tempus AI from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley decreased their target price on Tempus AI from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Mizuho began coverage on Tempus AI in a report on Thursday, February 19th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Stifel Nicolaus set a $60.00 price target on shares of Tempus AI in a research report on Wednesday, February 25th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.64.

Tempus AI Stock Up 8.7%

Shares of NASDAQ:TEM opened at $51.29 on Friday. Tempus AI, Inc. has a 12 month low of $41.73 and a 12 month high of $104.32. The company has a quick ratio of 3.15, a current ratio of 3.31 and a debt-to-equity ratio of 2.96. The company’s 50-day moving average price is $48.69 and its two-hundred day moving average price is $58.25. The firm has a market cap of $9.21 billion, a P/E ratio of -29.82 and a beta of 3.99.

Tempus AI (NASDAQ:TEM) last released its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.08. The company had revenue of $348.12 million during the quarter, compared to analysts’ expectations of $345.44 million. Tempus AI had a negative return on equity of 53.83% and a negative net margin of 22.20%.The business’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period last year, the firm earned ($0.24) EPS. As a group, research analysts forecast that Tempus AI, Inc. will post -1.35 EPS for the current fiscal year.

Insider Transactions at Tempus AI

In other news, CEO Ryan Fukushima sold 13,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total value of $597,148.50. Following the completion of the transaction, the chief executive officer owned 603,558 shares in the company, valued at $26,598,801.06. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Ryan M. Bartolucci sold 4,116 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $44.07, for a total value of $181,392.12. Following the transaction, the chief accounting officer owned 74,041 shares of the company’s stock, valued at approximately $3,262,986.87. The trade was a 5.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 392,057 shares of company stock valued at $18,835,714. Corporate insiders own 24.26% of the company’s stock.

Tempus AI Profile

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.