Tempus AI Sees Surge In Institutional Holdings In Q4: Cathie Wood's Ark Invest, JPMorgan, And BlackRock Load Up On TEM Stock
Tempus AI Inc. (NASDAQ:TEM), an artificial intelligence-powered precision medicine solutions provider, which was listed on exchanges in June 2024 has seen major funds investing in the company during the fourth quarter of the year.
What Happened: Tempus AI provides a two-pronged approach to healthcare. The first is an AI-driven precision medicine for personalized patient care, and the second one is a parallel engine for discovering, developing, and delivering optimal therapeutics.
Over the three-quarters of 2024 for which the company has been listed, it has seen the number of filings grow to 174 from 89. Whereas, the number of shares, excluding options has also increased substantially.
Here are a few key highlights of Tempus AI’s fourth-quarter adjustments in the portfolios of various funds through its 13F SEC filings.
- Cathie Wood‘s ARK Investment Management LLC increased its position in the company by 132% from the third and 956% from the second quarter, with its current holdings in the company valued at $186.343 million.
- JPMorgan Chase & Co. added a staggering 43424% or 1,650,096 shares in the fourth quarter, whereas UBS Group AG increased its stake by 6524% or 786,025 shares in the same period.
- Barclays PLC also added 3675% or 34,031 shares of the company to its portfolio, while Goldman Sachs Group Inc. and Morgan Stanley hiked their stakes by 129% and 40%, respectively.
- BlackRock Inc., Bank of New York Mellon Corp., and Ken Griffin‘s Citadel Advisors LLC took fresh positions in Tempus AI and 70 other funds during the quarter.
Company
Holdings (as of Sept. 30)
Holdings (as of Dec. 31)
Change (in %)
Value As Of Dec. 31
ARK Investment Management LLC
2,378,157
5,519,644
132%
$186.343 million
JPMorgan Chase & Co.
3,800
1,653,896
43424%
$55.835 million
UBS Group AG
12,049
798,074
6524%
$26.942 million
Goldman Sachs Group Inc.
26,687
61,026
129%
$1.107 million
Morgan Stanley
190,215
265,302
40%
$8.956 million
Barclays PLC
926
34,957
3675%
$1.180 million
BlackRock Inc.
0
445,896
0%
$15.053 million
Bank of New York Mellon Corp.
0
47,823
0%
$1.614 million
Citadel Advisors LLC
0
131,800
0%
$4.449 million
Why It Matters: While filings and share counts grew substantially, the value of both shares and options experienced fluctuations and ultimately decreased in the fourth quarter.
The data reveals notable trends across filings, shares, and their associated values from the second quarter to the fourth quarter of 2024.
Indicating fewer option bets, the value of options, which peaked at $101 million in the third quarter, fell to $79.5 million in the fourth. However, despite the increase in common shares during the fourth quarter, the total value of shares (excluding options) decreased from $2.12 billion to $1.74 billion.
Period
Filings
Shares, Excl. Options
Value, Excl. Options
Options Value
2024 Q4
174
51.7 M
$1.74 B
$79.5 M
2024 Q3
118
37.6 M
$2.12 B
$101 M
2024 Q2
89
42.6 M
$1.49 B
$12.9 M
Price Action: Tempus AI dropped 8.37% on Tuesday and recovered 1.21% during after-hours trading, contrasting with a slight 0.076% dip in the Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ), which tracks the Nasdaq Composite index. Despite this recent fall, TEM remains up 139.27% on a year-to-date basis and 103.60% since its listing in June 2024.
Benzinga tracks 11 analysts with an average price target of $59.6 for the stock, reflecting a “buy” rating. Estimates range widely from $44 to $74. Recent ratings from TD Cowen, Loop Capital, and Needham average $60.67, suggesting a potential 26.85% downside.
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Photo courtesy: Tempus
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