Nikko Asset Management Americas Inc. Purchases 2,021,394 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Nikko Asset Management Americas Inc. grew its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM) by 166.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,239,093 shares of the company’s stock after buying an additional 2,021,394 shares during the period. Tempus AI accounts for 1.2% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 24th largest position. Nikko Asset Management Americas Inc.’s holdings in Tempus AI were worth $109,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kovitz Investment Group Partners LLC bought a new stake in Tempus AI during the 3rd quarter valued at about $1,367,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tempus AI during the fourth quarter worth approximately $1,091,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Tempus AI during the fourth quarter valued at approximately $178,000. Captrust Financial Advisors purchased a new stake in shares of Tempus AI in the third quarter valued at approximately $2,726,000. Finally, abrdn plc bought a new position in Tempus AI in the fourth quarter worth approximately $2,784,000. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEM has been the subject of several research reports. Needham & Company LLC upped their target price on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Wolfe Research cut shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Morgan Stanley boosted their price target on shares of Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Piper Sandler lowered their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Loop Capital cut their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Insider Transactions at Tempus AI

In related news, COO Ryan Fukushima sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total value of $792,200.00. Following the sale, the chief operating officer now owns 982,442 shares in the company, valued at $38,914,527.62. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This represents a 39.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,749,469 shares of company stock worth $322,529,733.

Tempus AI Price Performance

TEM stock opened at $47.17 on Monday. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45. The firm has a 50 day moving average of $55.33 and a 200 day moving average of $51.65.

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.