Alliancebernstein L.P. Acquires 271,591 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Alliancebernstein L.P. lifted its holdings in Tempus AI, Inc. (NASDAQ:TEM) by 40.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 945,133 shares of the company’s stock after purchasing an additional 271,591 shares during the quarter. Alliancebernstein L.P.’s holdings in Tempus AI were worth $31,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after buying an additional 539 shares during the period. Prestige Wealth Management Group LLC increased its position in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after purchasing an additional 965 shares during the period. Farther Finance Advisors LLC bought a new stake in Tempus AI during the 4th quarter worth about $34,000. First Horizon Advisors Inc. lifted its position in Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock valued at $55,000 after purchasing an additional 1,108 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Tempus AI in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Trading Down 7.8 %

Shares of TEM opened at $42.58 on Monday. Tempus AI, Inc. has a twelve month low of $22.89 and a twelve month 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. The firm’s 50 day moving average price is $58.27 and its two-hundred day moving average price is $51.45.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the transaction, the director now directly owns 26,514 shares in the company, valued at approximately $1,207,447.56. This trade represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nadja West sold 809 shares of Tempus AI stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total value 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 a total of 5,601,969 shares of company stock worth $317,330,782 over the last ninety days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TEM. TD Cowen restated a “buy” rating and issued a $74.00 price objective (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Guggenheim restated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Morgan Stanley increased 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. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Needham & Company LLC lifted their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.18.

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.