Norges Bank Makes New Investment in Tempus AI, Inc. (NASDAQ:TEM)

Norges Bank acquired a new position in Tempus AI, Inc. (NASDAQ:TEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,027,284 shares of the company’s stock, valued at approximately $34,681,000.

A number of other hedge funds have also made changes to their positions in TEM. ARK Investment Management LLC increased its holdings in Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the period. JPMorgan Chase & Co. lifted its position in Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after acquiring an additional 1,651,996 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Tempus AI by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after acquiring an additional 8,387 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Trading Down 7.8 %

Shares of TEM opened at $42.58 on Friday. The stock has a 50 day moving average of $58.27 and a 200-day moving average of $51.45. 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.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Bank of America boosted their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Needham & Company LLC raised their target price on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Wolfe Research lowered Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.18.

Insider Activity at Tempus AI

In other news, EVP Andrew Polovin sold 13,135 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the sale, the executive vice president now directly owns 154,171 shares in the company, valued at approximately $7,088,782.58. This represents a 7.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the transaction, the director now owns 26,514 shares of the company’s stock, valued at $1,207,447.56. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,601,969 shares of company stock valued at $317,330,782.

Tempus AI 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.