Tempus AI (NASDAQ:TEM) Trading Up 2.5% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price shot up 2.5% during trading on Friday . The company traded as high as $61.57 and last traded at $60.65. 6,389,112 shares were traded during trading, a decline of 14% from the average session volume of 7,393,926 shares. The stock had previously closed at $59.18.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Tempus AI from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 25th. Piper Sandler upped their target price on shares of Tempus AI from $55.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. BTIG Research initiated coverage on shares of Tempus AI in a research report on Monday, April 21st. They set a “buy” rating and a $60.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Tempus AI in a research report on Wednesday, May 7th. Finally, Guggenheim boosted their price objective on Tempus AI from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Tempus AI Trading Up 2.5%

The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. The business has a 50 day moving average price of $62.53 and a 200 day moving average price of $54.12. The company has a market capitalization of $10.50 billion and a P/E ratio of -7.78.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. Tempus AI’s quarterly revenue was up 75.4% compared to the same quarter last year. Analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Activity

In other news, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the completion of the sale, the chief operating officer owned 884,460 shares of the company’s stock, valued at approximately $46,310,325.60. This represents a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total value of $17,517,500.00. Following the completion of the sale, the chief executive officer directly owned 9,357,283 shares of the company’s stock, valued at approximately $655,664,819.81. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 607,522 shares of company stock worth $41,300,238. 27.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tempus AI

Large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its position in Tempus AI by 12.7% during the 1st quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company’s stock worth $89,000 after buying an additional 208 shares during the period. Wells Fargo & Company MN increased its position in Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after buying an additional 278 shares during the period. Bartlett & CO. Wealth Management LLC increased its position in Tempus AI by 100.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock worth $39,000 after buying an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Tempus AI by 10.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company’s stock worth $268,000 after buying an additional 515 shares during the period. Finally, Cherry Tree Wealth Management LLC bought a new position in Tempus AI during the 1st quarter worth $31,000. Institutional investors own 24.22% of the company’s stock.

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.