Sumitomo Mitsui Trust Group Inc. Sells 688,152 Shares of Tempus AI, Inc. $TEM

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Tempus AI, Inc. (NASDAQ:TEM) by 16.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,400,877 shares of the company’s stock after selling 688,152 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tempus AI were worth $278,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEM. Guardian Partners Inc. boosted its stake in shares of Tempus AI by 8.3% during the 3rd quarter. Guardian Partners Inc. now owns 2,600 shares of the company’s stock worth $213,000 after buying an additional 200 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Tempus AI in the third quarter valued at about $27,000. ProShare Advisors LLC increased its position in shares of Tempus AI by 5.9% in the third quarter. ProShare Advisors LLC now owns 6,500 shares of the company’s stock valued at $532,000 after acquiring an additional 360 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Tempus AI by 6.7% during the third quarter. Cyndeo Wealth Partners LLC now owns 6,412 shares of the company’s stock worth $525,000 after acquiring an additional 400 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in Tempus AI by 9.6% during the first quarter. Arkadios Wealth Advisors now owns 4,963 shares of the company’s stock worth $224,000 after acquiring an additional 435 shares in the last quarter. 24.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Tempus AI

In related news, CEO Ryan Fukushima sold 700 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $70.00, for a total value of $49,000.00. Following the transaction, the chief executive officer directly owned 15,874 shares in the company, valued at approximately $1,111,180. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Ryan M. Bartolucci sold 7,062 shares of Tempus AI stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $75.00, for a total value of $529,650.00. Following the completion of the transaction, the chief accounting officer directly owned 60,804 shares of the company’s stock, valued at $4,560,300. This represents a 10.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,280,965 shares of company stock worth $87,472,564 in the last ninety days. Insiders own 24.26% of the company’s stock.

Tempus AI Stock Performance

Shares of TEM opened at $72.22 on Friday. The firm has a 50-day moving average of $70.69 and a 200-day moving average of $57.07. Tempus AI, Inc. has a one year low of $40.77 and a one year high of $90.53. The company has a market cap of $13.03 billion, a PE ratio of -50.15 and a beta of 3.54. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.30 and a quick ratio of 3.16.

Tempus AI (NASDAQ:TEM) last issued its earnings results on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%. The company had revenue of $382.49 million during the quarter, compared to the consensus estimate of $379.69 million. During the same period in the previous year, the company posted ($0.22) EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, equities analysts forecast that Tempus AI, Inc. will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

TEM has been the subject of several recent research reports. Rothschild & Co Redburn started coverage on Tempus AI in a research report on Tuesday, September 8th. They set a “neutral” rating and a $67.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Tempus AI in a research report on Friday, October 23rd. BTIG Research reaffirmed a “buy” rating and set a $80.00 price target on shares of Tempus AI in a research report on Monday, October 26th. Roth Capital began coverage on Tempus AI in a research note on Tuesday, September 8th. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on Tempus AI in a report on Wednesday, September 2nd. They issued an “overweight” rating and a $80.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.47.

About Tempus AI

Tempus AI, Inc is a healthcare technology company that uses artificial intelligence and data analytics to support precision medicine. The company combines clinical, molecular and imaging data to help physicians make more informed treatment decisions and to help researchers and biopharmaceutical companies develop therapies.

Its offerings include genomic testing and analysis, such as tissue- and blood-based tests, as well as software tools designed to assist with clinical decision-making, patient matching for clinical trials and the management of healthcare data.