Raymond James Financial Inc. Makes New Investment in Tempus AI, Inc. (NASDAQ:TEM)

Raymond James Financial Inc. bought a new position in Tempus AI, Inc. (NASDAQ:TEM) in the fourth quarter, Holdings Channel reports. The institutional investor bought 111,288 shares of the company’s stock, valued at approximately $3,757,000.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Tempus AI by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock valued at $1,686,000 after buying an additional 2,765 shares during the period. Captrust Financial Advisors acquired a new stake in Tempus AI during the third quarter worth $2,726,000. NEA Management Company LLC raised its position in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Tempus AI in the 3rd quarter valued at $725,000. Finally, Stifel Financial Corp purchased a new position in shares of Tempus AI during the 3rd quarter worth $218,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Stock Performance

Tempus AI stock opened at $53.25 on Thursday. The stock’s fifty day simple moving average is $57.78 and its 200-day simple moving average is $51.47. 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.

Insiders Place Their Bets

In related news, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $60.00, for a total value of $826,200.00. Following the transaction, the chief accounting officer now owns 57,237 shares of the company’s stock, valued at $3,434,220. This represents a 19.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the sale, the executive vice president now directly owns 154,171 shares of the company’s stock, valued at $7,088,782.58. This trade represents a 7.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,598,969 shares of company stock worth $317,194,162 in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEM. Wolfe Research lowered shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Loop Capital decreased their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Piper Sandler lowered their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. Finally, TD Cowen restated a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and a consensus price target of $61.18.

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.