Tempus AI, Inc. (NASDAQ:TEM) Stake Raised by ARK Investment Management LLC

ARK Investment Management LLC grew its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM) by 132.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,519,644 shares of the company’s stock after purchasing an additional 3,141,487 shares during the quarter. Tempus AI accounts for 1.6% of ARK Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. ARK Investment Management LLC’s holdings in Tempus AI were worth $186,343,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the third quarter valued at approximately $30,000. Geode Capital Management LLC increased its stake in shares of Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after acquiring an additional 539 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Tempus AI during the fourth quarter valued at approximately $67,000. IFP Advisors Inc acquired a new position in shares of Tempus AI during the fourth quarter valued at approximately $76,000. Finally, Vestor Capital LLC acquired a new position in shares of Tempus AI during the third quarter valued at approximately $153,000. Institutional investors own 24.22% of the company’s stock.

Analyst Ratings Changes

TEM has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective on the stock. Bank of America raised their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. TD Cowen restated a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

Insider Buying and Selling

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the transaction, the insider now owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer A. Doudna sold 1,320 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $90.00, for a total transaction of $118,800.00. Following the completion of the transaction, the director now directly owns 36,011 shares of the company’s stock, valued at $3,240,990. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,583,467 shares of company stock valued at $130,542,311.

Tempus AI Stock Performance

Tempus AI stock opened at $59.10 on Wednesday. The company has a 50 day moving average price of $51.28 and a 200 day moving average price of $52.17. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Tempus AI Company Profile

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.