Tempus AI, Inc. (NASDAQ:TEM) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its position in shares of Tempus AI, Inc. (NASDAQ:TEM) by 37.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,980 shares of the company’s stock after selling 22,940 shares during the quarter. Fred Alger Management LLC’s holdings in Tempus AI were worth $2,206,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEM. NEA Management Company LLC acquired a new position in shares of Tempus AI during the 2nd quarter valued at $160,048,000. Novo Holdings A S acquired a new position in shares of Tempus AI during the second quarter worth about $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in shares of Tempus AI in the second quarter worth about $128,133,000. ARK Investment Management LLC raised its holdings in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares during the period. Finally, Alphabet Inc. purchased a new stake in shares of Tempus AI during the 2nd quarter valued at about $54,289,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Loop Capital increased their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the company from $45.00 to $65.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler restated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.22.

Tempus AI Trading Down 0.6 %

Shares of TEM opened at $62.59 on Monday. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $79.49. 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 business has a 50 day moving average price of $53.15.

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.