Tempus AI (NASDAQ:TEM) Given New $66.00 Price Target at HC Wainwright

Tempus AI (NASDAQ:TEM) had its price objective increased by analysts at HC Wainwright from $56.00 to $66.00 in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 12.36% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Guggenheim upped their price target on Tempus AI from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. BTIG Research raised their price objective on Tempus AI from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Rothschild & Co Redburn began coverage on shares of Tempus AI in a report on Tuesday. They issued a “neutral” rating and a $67.00 price objective for the company. Weiss Ratings lowered shares of Tempus AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $75.00 target price on shares of Tempus AI in a report on Friday, July 31st. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Tempus AI currently has an average rating of “Hold” and a consensus target price of $69.33.

Tempus AI Stock Down 4.1%

Shares of Tempus AI stock opened at $58.74 on Friday. The business has a 50-day moving average price of $55.99 and a 200 day moving average price of $52.28. Tempus AI has a fifty-two week low of $40.77 and a fifty-two week high of $104.32. The firm has a market cap of $10.60 billion, a P/E ratio of -40.79 and a beta of 3.72. The company has a quick ratio of 3.16, a current ratio of 3.30 and a debt-to-equity ratio of 3.06.

Tempus AI (NASDAQ:TEM) last released its earnings results on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $382.49 million for the quarter, compared to the consensus estimate of $379.69 million. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%.Tempus AI’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) EPS. On average, sell-side analysts forecast that Tempus AI will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Andrew Polovin sold 22,148 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $49.61, for a total transaction of $1,098,762.28. Following the sale, the executive vice president directly owned 146,067 shares in the company, valued at approximately $7,246,383.87. This represents a 13.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Rogers sold 26,313 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $60.00, for a total value of $1,578,780.00. Following the completion of the sale, the chief financial officer directly owned 106,024 shares in the company, valued at approximately $6,361,440. This trade represents a 19.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,043,988 shares of company stock valued at $56,963,417 over the last three months. 24.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tempus AI

Large investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new position in shares of Tempus AI during the third quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in shares of Tempus AI in the 4th quarter worth about $27,000. Harvest Fund Management Co. Ltd bought a new stake in Tempus AI in the 3rd quarter valued at about $38,000. EMC Capital Management bought a new stake in Tempus AI in the 2nd quarter valued at about $29,000. Finally, Danske Bank A S acquired a new position in Tempus AI during the 3rd quarter valued at about $48,000. 24.22% of the stock is owned by institutional investors and hedge funds.

About Tempus AI

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.