Norges Bank Takes $48.23 Million Position in Tempus AI, Inc. $TEM

Norges Bank purchased a new position in Tempus AI, Inc. (NASDAQ:TEM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 816,840 shares of the company’s stock, valued at approximately $48,234,000.

Several other hedge funds have also recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new position in Tempus AI during the third quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in Tempus AI in the 3rd quarter worth approximately $38,000. Danske Bank A S purchased a new stake in Tempus AI during the 3rd quarter valued at $48,000. Sunbelt Securities Inc. bought a new position in shares of Tempus AI during the 3rd quarter valued at $52,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tempus AI by 64.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the company’s stock worth $53,000 after buying an additional 256 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

Tempus AI Stock Performance

NASDAQ:TEM opened at $46.43 on Monday. Tempus AI, Inc. has a one year low of $41.73 and a one year high of $104.32. The business has a fifty day moving average price of $48.89 and a 200-day moving average price of $57.42. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of -26.99 and a beta of 3.64. The company has a debt-to-equity ratio of 2.96, a current ratio of 3.31 and a quick ratio of 3.15.

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

Insider Activity

In related news, CEO Eric P. Lefkofsky sold 166,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $46.70, for a total transaction of $7,763,875.00. Following the completion of the transaction, the chief executive officer directly owned 8,808,533 shares in the company, valued at approximately $411,358,491.10. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Ryan M. Bartolucci sold 4,116 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $44.07, for a total transaction of $181,392.12. Following the completion of the sale, the chief accounting officer directly owned 74,041 shares of the company’s stock, valued at $3,262,986.87. This represents a 5.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 558,557 shares of company stock worth $26,611,939. 24.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Guggenheim cut their price objective on Tempus AI from $95.00 to $60.00 and set a “buy” rating for the company in a report on Monday, March 30th. Jefferies Financial Group started coverage on Tempus AI in a report on Monday, April 13th. They issued an “underperform” rating and a $35.00 target price on the stock. HC Wainwright cut their price target on Tempus AI from $95.00 to $64.00 and set a “buy” rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price target on shares of Tempus AI from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, Robert W. Baird initiated coverage on shares of Tempus AI in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $59.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Tempus AI presently has an average rating of “Hold” and a consensus price target of $68.64.

Tempus AI Company 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.