Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume on Analyst Upgrade

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw strong trading volume on Tuesday after Needham & Company LLC raised their price target on the stock from $56.00 to $70.00. Needham & Company LLC currently has a buy rating on the stock. 8,680,936 shares were traded during trading, a decline of 39% from the previous session’s volume of 14,308,143 shares.The stock last traded at $60.60 and had previously closed at $69.57.

Several other equities analysts have also recently issued reports on TEM. Wolfe Research began coverage on Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. William Blair cut Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Piper Sandler restated a “neutral” rating and set a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Guggenheim started coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their target price for the company from $50.00 to $55.00 in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.55.

Insider Buying and Selling at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 84,640 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $80.87, for a total transaction of $6,844,836.80. Following the sale, the chief executive officer now owns 4,964,820 shares of the company’s stock, valued at $401,504,993.40. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,237 shares of the company’s stock, valued at approximately $3,434,220. This trade represents a 19.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,583,467 shares of company stock valued at $130,542,311 in the last three months.

Institutional Trading of Tempus AI

Several institutional investors and hedge funds have recently modified their holdings of the business. ARK Investment Management LLC lifted its holdings in shares of Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after acquiring an additional 3,141,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. raised its position in Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after buying an additional 1,651,996 shares during the last quarter. 24.22% of the stock is currently owned by institutional investors.

Tempus AI Stock Down 10.9 %

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 firm has a 50 day moving average price of $50.88 and a two-hundred day moving average price of $52.03.

Tempus AI (NASDAQ:TEM) last released its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The company had revenue of $200.68 million for the quarter, compared to the consensus estimate of $202.80 million. As a group, research analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

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.