Franklin Resources Inc. Acquires 1,950,862 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Franklin Resources Inc. grew its holdings in Tempus AI, Inc. (NASDAQ:TEM) by 240.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,762,173 shares of the company’s stock after purchasing an additional 1,950,862 shares during the period. Franklin Resources Inc. owned about 1.75% of Tempus AI worth $93,251,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its position in Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after buying an additional 539 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Tempus AI during the fourth quarter valued at approximately $34,000. First Horizon Advisors Inc. boosted its holdings in Tempus AI by 207.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock worth $55,000 after purchasing an additional 1,108 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Tempus AI in the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Wall Street Analysts Forecast Growth

TEM has been the topic of several research analyst reports. William Blair reissued a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. TD Cowen reissued a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Piper Sandler reduced their price target 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. Finally, Morgan Stanley raised their price objective on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.18.

Insider Activity

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total transaction of $792,200.00. Following the completion of the sale, the chief operating officer now directly owns 982,442 shares of the company’s stock, valued at $38,914,527.62. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $41,347.99. Following the sale, the director now owns 37,705 shares in the company, valued at approximately $1,927,102.55. The trade was 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 worth $317,330,782 in the last three months.

Tempus AI Stock Performance

NASDAQ TEM opened at $49.89 on Thursday. Tempus AI, Inc. has a 12 month low of $22.89 and a 12 month high of $91.45. The company’s 50 day moving average is $58.62 and its two-hundred day moving average is $51.55. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

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.