Barclays PLC Trims Holdings in Tempus AI, Inc. (NASDAQ:TEM)

Barclays PLC lowered its position in Tempus AI, Inc. (NASDAQ:TEM) by 99.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 926 shares of the company’s stock after selling 137,874 shares during the period. Barclays PLC’s holdings in Tempus AI were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Horizon Advisors Inc. purchased a new stake in Tempus AI in the 3rd quarter worth approximately $30,000. Geode Capital Management LLC boosted its holdings in Tempus AI by 0.4% during the third 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 in the last quarter. Vestor Capital LLC acquired a new stake in Tempus AI during the third quarter valued at $153,000. The Manufacturers Life Insurance Company increased its holdings in Tempus AI by 10.2% in the third 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 in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Tempus AI in the third quarter worth about $218,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Stock Down 6.3 %

TEM opened at $51.40 on Friday. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company’s 50 day simple moving average is $44.36 and its two-hundred day simple moving average is $47.59. Tempus AI, Inc. has a 1-year low of $22.89 and a 1-year high of $79.49.

Analyst Upgrades and Downgrades

TEM has been the topic of a number of analyst reports. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim initiated coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Bank of America increased their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $56.00 price target on shares of Tempus AI in a report on Tuesday, January 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Insiders Place Their Bets

In related news, EVP Andrew Polovin sold 51,504 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. This trade represents a 17.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,862,758 shares of company stock valued at $79,585,675.

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.