Comerica Bank Buys 86,800 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Comerica Bank lifted its stake in shares of Tempus AI, Inc. (NASDAQ:TEM) by 342.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,145 shares of the company’s stock after acquiring an additional 86,800 shares during the quarter. Comerica Bank’s holdings in Tempus AI were worth $3,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEM. Tudor Investment Corp ET AL bought a new stake in Tempus AI during the fourth quarter valued at $348,000. Mission Creek Capital Partners Inc. acquired a new position in shares of Tempus AI in the 4th quarter valued at about $1,612,000. Oxford Asset Management LLP bought a new stake in shares of Tempus AI during the 4th quarter valued at about $457,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in Tempus AI during the fourth quarter worth approximately $775,000. Finally, HBK Investments L P bought a new stake in Tempus AI in the fourth quarter worth approximately $5,064,000. 24.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tempus AI news, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total value of $603,947.30. Following the sale, the executive vice president now owns 154,171 shares of the company’s stock, valued at approximately $7,088,782.58. The trade was a 7.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $90.00, for a total transaction of $118,800.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,297,949 shares of company stock worth $255,591,733. 27.60% of the stock is owned by company insiders.

Tempus AI Trading Down 3.5 %

Shares of TEM stock opened at $52.19 on Wednesday. Tempus AI, Inc. has a one year low of $22.89 and a one year high of $91.45. The firm has a 50-day moving average of $47.88 and a 200-day moving average of $50.70. 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 (NASDAQ:TEM) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million for the quarter, compared to the consensus estimate of $248.13 million. Tempus AI’s quarterly revenue was up 75.4% on a year-over-year basis. On average, equities research analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TEM shares. Bank of America increased their price target on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. BTIG Research initiated coverage on shares of Tempus AI in a report on Monday, April 21st. They issued a “buy” rating and a $60.00 price target for the company. Piper Sandler dropped their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Morgan Stanley raised their target price on Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six equities 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, Tempus AI has a consensus rating of “Moderate Buy” and a consensus price target of $61.08.

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.