Fagan Associates Inc. Acquires 64,287 Shares of Tempus AI, Inc. $TEM

Fagan Associates Inc. acquired a new stake in Tempus AI, Inc. (NASDAQ:TEM) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 64,287 shares of the company’s stock, valued at approximately $5,265,000.

Other hedge funds also recently modified their holdings of the company. Eagle Health Investments LP bought a new stake in shares of Tempus AI during the 1st quarter worth about $11,588,000. Aristotle Atlantic Partners LLC acquired a new position in Tempus AI in the 1st quarter valued at about $6,179,000. Headlands Technologies LLC bought a new position in Tempus AI in the 2nd quarter valued at about $2,689,000. Odyssean LLC bought a new position in Tempus AI in the 2nd quarter valued at about $897,000. Finally, Virtu Financial LLC raised its holdings in Tempus AI by 384.6% in the 4th quarter. Virtu Financial LLC now owns 54,797 shares of the company’s stock valued at $3,236,000 after acquiring an additional 43,490 shares during the period. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Stock Performance

Shares of TEM traded up $0.23 during midday trading on Tuesday, reaching $68.22. 4,144,923 shares of the stock were exchanged, compared to its average volume of 6,223,961. Tempus AI, Inc. has a twelve month low of $40.77 and a twelve month high of $97.25. The company has a quick ratio of 3.16, a current ratio of 3.30 and a debt-to-equity ratio of 3.06. The company has a market cap of $12.31 billion, a P/E ratio of -47.37 and a beta of 3.54. The stock’s 50 day simple moving average is $66.46 and its 200 day simple moving average is $55.91.

Tempus AI (NASDAQ:TEM) last announced its earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. The company had revenue of $382.49 million during the quarter, compared to analysts’ expectations of $379.69 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Tempus AI’s quarterly revenue was up 21.6% on a year-over-year basis. On average, sell-side analysts expect that Tempus AI, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, CFO James Rogers sold 26,313 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $60.00, for a total value of $1,578,780.00. Following the completion of the sale, the chief financial officer owned 106,024 shares of the company’s stock, valued at $6,361,440. The trade was a 19.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $42.06, for a total transaction of $10,515,000.00. Following the completion of the sale, the chief executive officer directly owned 200,000 shares of the company’s stock, valued at $8,412,000. This represents a 55.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,280,965 shares of company stock valued at $80,397,564 in the last three months. 24.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TEM. The Goldman Sachs Group initiated coverage on shares of Tempus AI in a research report on Monday, September 21st. They set a “neutral” rating and a $75.00 price objective for the company. Weiss Ratings downgraded Tempus AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 28th. TD Cowen reaffirmed a “buy” rating on shares of Tempus AI in a research report on Wednesday, July 15th. BTIG Research increased their target price on Tempus AI from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Lake Street Capital lowered Tempus AI to a “hold” rating in a research note on Monday, July 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Tempus AI currently has a consensus rating of “Hold” and an average price target of $71.84.

Tempus AI Company Profile

Tempus AI, Inc is a technology company focused on applying artificial intelligence and data analytics to precision medicine. The company develops tools intended to help physicians make more informed treatment decisions by combining clinical information, molecular data and other health-related datasets.

Tempus provides genomic testing and diagnostic services, including sequencing and other molecular tests used primarily in oncology. Its platform also offers data and software solutions designed to support clinical research, pharmaceutical development, patient identification for clinical trials and the development of personalized treatment strategies.

Founded in 2015, Tempus is headquartered in Chicago and primarily serves healthcare providers, researchers and life sciences companies.