ARK Investment Management LLC Purchases 1,855,459 Shares of Tempus AI, Inc. (NASDAQ:TEM)

ARK Investment Management LLC grew its holdings in shares of Tempus AI, Inc. (NASDAQ:TEM) by 355.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,378,157 shares of the company’s stock after buying an additional 1,855,459 shares during the period. Tempus AI accounts for 1.2% of ARK Investment Management LLC’s portfolio, making the stock its 25th biggest position. ARK Investment Management LLC owned approximately 1.54% of Tempus AI worth $134,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEM. NEA Management Company LLC bought a new stake in shares of Tempus AI during the 2nd quarter valued at about $160,048,000. Novo Holdings A S bought a new stake in Tempus AI during the 2nd quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. bought a new stake in Tempus AI during the 2nd quarter valued at approximately $128,133,000. Alphabet Inc. purchased a new position in shares of Tempus AI during the 2nd quarter worth approximately $54,289,000. Finally, Lingotto Investment Management LLP bought a new position in shares of Tempus AI in the 2nd quarter worth approximately $32,685,000.

Tempus AI Price Performance

TEM stock opened at $56.79 on Friday. The firm has a 50-day moving average price of $49.93. Tempus AI, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $77.00. The company has a debt-to-equity ratio of 8.17, a quick ratio of 3.52 and a current ratio of 2.69.

Tempus AI (NASDAQ:TEM) last announced its earnings results on Tuesday, August 6th. The company reported ($6.77) EPS for the quarter, missing analysts’ consensus estimates of ($4.41) by ($2.36). The business had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. Equities research analysts forecast that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price target on shares of Tempus AI in a research note on Wednesday, August 7th. Loop Capital raised their target price on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler started coverage on Tempus AI in a research report on Monday, August 12th. They set a “neutral” rating and a $40.00 price objective for the company. Bank of America cut Tempus AI from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Tempus AI has an average rating of “Moderate Buy” and a consensus target price of $48.67.

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.