Tempus AI (NASDAQ:TEM) Shares Up 3.9% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was up 3.9% during trading on Tuesday . The stock traded as high as $65.50 and last traded at $64.6250. 966,759 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 6,009,018 shares. The stock had previously closed at $62.21.

Analysts Set New Price Targets

A number of analysts have issued reports on TEM shares. Wolfe Research started coverage on Tempus AI in a report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Stifel Nicolaus dropped their price objective on Tempus AI from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. HC Wainwright raised their target price on Tempus AI from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Tempus AI in a research note on Friday, July 31st. Finally, UBS Group began coverage on Tempus AI in a research note on Wednesday, September 9th. They set a “neutral” rating and a $70.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tempus AI has a consensus rating of “Hold” and an average price target of $69.33.

Tempus AI Trading Up 1.6%

The company has a debt-to-equity ratio of 3.06, a current ratio of 3.30 and a quick ratio of 3.16. The firm has a market capitalization of $12.62 billion, a PE ratio of -48.59 and a beta of 3.72. The business’s 50-day moving average price is $56.42 and its 200-day moving average price is $52.53.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $382.49 million during the quarter, compared to the consensus estimate of $379.69 million. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. Tempus AI’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) EPS. As a group, analysts expect that Tempus AI, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tempus AI

In other news, CEO Eric P. Lefkofsky sold 250,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $42.06, for a total transaction of $10,515,000.00. Following the completion of the sale, the chief executive officer owned 200,000 shares in the company, valued at approximately $8,412,000. This represents a 55.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Fukushima sold 41,095 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $49.61, for a total value of $2,038,722.95. Following the transaction, the chief executive officer directly owned 562,463 shares in the company, valued at approximately $27,903,789.43. This represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 1,043,988 shares of company stock valued at $56,963,417. Company insiders own 24.26% of the company’s stock.

Institutional Trading of Tempus AI

Hedge funds have recently added to or reduced their stakes in the stock. Amova Asset Management Americas Inc. increased its stake in Tempus AI by 23.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 4,326,313 shares of the company’s stock valued at $195,549,000 after purchasing an additional 821,490 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Tempus AI by 23.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,326,313 shares of the company’s stock worth $195,636,000 after purchasing an additional 821,490 shares in the last quarter. Norges Bank acquired a new stake in Tempus AI in the fourth quarter valued at $48,234,000. Franklin Resources Inc. grew its holdings in Tempus AI by 27.9% in the fourth quarter. Franklin Resources Inc. now owns 1,861,782 shares of the company’s stock valued at $109,938,000 after purchasing an additional 405,662 shares during the last quarter. Finally, Lingotto Investment Management LLP grew its holdings in Tempus AI by 45.9% in the fourth quarter. Lingotto Investment Management LLP now owns 1,143,526 shares of the company’s stock valued at $67,525,000 after purchasing an additional 359,667 shares during the last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

Tempus AI Company Profile

Tempus AI, Inc is a healthcare technology company focused on applying artificial intelligence and data analytics to precision medicine. The company combines molecular testing, clinical data and machine learning to help physicians make more informed treatment decisions and support the development of new therapies.

Tempus provides genomic and diagnostic testing services, including testing intended to identify clinically relevant mutations and other biomarkers. Its technology platform also organizes and analyzes clinical and molecular data, while its AI-enabled tools are designed to assist healthcare professionals with patient care, research and workflow management.

The company serves healthcare providers, patients, pharmaceutical companies and biotechnology researchers, primarily in the United States.