JPMorgan Chase & Co. Buys 1,651,996 Shares of Tempus AI, Inc. (NASDAQ:TEM)

JPMorgan Chase & Co. raised its stake in shares of Tempus AI, Inc. (NASDAQ:TEM) by 86,947.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,653,896 shares of the company’s stock after buying an additional 1,651,996 shares during the period. JPMorgan Chase & Co.’s holdings in Tempus AI were worth $55,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEM. ARK Investment Management LLC grew its position in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after acquiring an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Tempus AI by 166.0% during 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 purchasing an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the period. Teacher Retirement System of Texas purchased a new stake in Tempus AI in the fourth quarter worth about $13,504,000. Finally, Tidal Investments LLC bought a new position in shares of Tempus AI in the third quarter worth about $7,633,000. 24.22% of the stock is owned by institutional investors.

Insider Transactions at Tempus AI

In other news, EVP Andrew Polovin sold 13,135 shares of the business’s 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nadja West sold 809 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total transaction of $41,347.99. Following the completion of the sale, the director now directly owns 37,705 shares in the company, valued at approximately $1,927,102.55. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,601,969 shares of company stock valued at $317,330,782 in the last ninety days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TEM shares. Loop Capital reduced their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut shares of Tempus AI from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. 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 research note on Monday, March 3rd. Finally, Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Price Performance

Shares of Tempus AI stock 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 debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. Tempus AI, Inc. has a 12 month low of $22.89 and a 12 month high of $91.45.

About Tempus AI

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.