Tempus AI (NASDAQ:TEM) Trading 1.2% Higher – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded up 1.2% during trading on Friday . The stock traded as high as $60.18 and last traded at $59.93. 4,409,370 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 6,341,949 shares. The stock had previously closed at $59.25.

Analysts Set New Price Targets

A number of research firms recently issued reports on TEM. TD Cowen restated a “buy” rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. BTIG Research began coverage on shares of Tempus AI in a report on Monday, April 21st. They set a “buy” rating and a $60.00 price objective for the company. Guggenheim restated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Finally, Piper Sandler raised their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.42.

Tempus AI Price Performance

The stock has a market cap of $10.77 billion and a PE ratio of -8.02. 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’s 50 day moving average price is $51.56 and its two-hundred day moving average price is $52.16.

Tempus AI (NASDAQ:TEM) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. The business had revenue of $255.74 million during the quarter, compared to analysts’ expectations of $248.13 million. The company’s revenue for the quarter was up 75.4% compared to the same quarter last year. On average, research analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Activity

In other Tempus AI news, CAO Ryan M. Bartolucci sold 6,073 shares of Tempus AI stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $63.23, for a total transaction of $383,995.79. Following the completion of the sale, the chief accounting officer now directly owns 47,799 shares in the company, valued at $3,022,330.77. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total transaction of $603,947.30. Following the sale, the executive vice president now owns 154,171 shares of the company’s stock, valued at approximately $7,088,782.58. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,963,276 shares of company stock worth $228,006,438. 27.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tempus AI

Hedge funds have recently bought and sold shares of the stock. Cherry Tree Wealth Management LLC bought a new stake in Tempus AI during the first quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. bought a new stake in Tempus AI during the first quarter valued at approximately $33,000. Operose Advisors LLC bought a new stake in Tempus AI during the fourth quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC lifted its position in Tempus AI by 100.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock valued at $39,000 after purchasing an additional 400 shares during the last quarter. Finally, Nemes Rush Group LLC bought a new stake in Tempus AI during the first quarter valued at approximately $39,000. 24.22% of the stock is currently owned by institutional investors.

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.