Tempus AI, Inc. (NASDAQ:TEM) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Tempus AI, Inc. (NASDAQ:TEM) by 1,591.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,217,699 shares of the company’s stock after acquiring an additional 1,145,698 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.79% of Tempus AI worth $68,922,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new stake in shares of Tempus AI in the second quarter valued at about $136,000. Vestor Capital LLC purchased a new position in Tempus AI in the third quarter valued at about $153,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Tempus AI during the 3rd quarter valued at approximately $258,000. Clarus Group Inc. purchased a new stake in shares of Tempus AI during the 3rd quarter worth approximately $283,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Tempus AI in the 3rd quarter worth approximately $306,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TEM shares. Bank of America downgraded Tempus AI from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Needham & Company LLC reissued a “buy” rating and issued a $47.00 price objective on shares of Tempus AI in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday. Finally, Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the company from $45.00 to $65.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Trading Down 16.8 %

Shares of Tempus AI stock opened at $56.63 on Friday. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $79.49. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The business has a 50-day simple moving average of $51.21.

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.