Tempus AI (NASDAQ:TEM) Trading Up 6.1% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) shares rose 6.1% on Thursday . The company traded as high as $81.25 and last traded at $81.2690. Approximately 8,574,459 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 6,142,033 shares. The stock had previously closed at $76.59.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TEM. Guggenheim boosted their target price on Tempus AI from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Piper Sandler upgraded Tempus AI from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $56.00 to $76.00 in a research note on Tuesday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price objective on shares of Tempus AI in a research note on Friday, July 31st. Roth Capital started coverage on Tempus AI in a report on Tuesday, September 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, HC Wainwright raised their target price on shares of Tempus AI from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.63.

Tempus AI Stock Performance

The stock has a market cap of $14.65 billion, a PE ratio of -56.62 and a beta of 3.72. The stock has a fifty day moving average of $58.39 and a 200-day moving average of $53.43. 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 posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%.The firm had revenue of $382.49 million during the quarter, compared to the consensus estimate of $379.69 million. During the same period in the prior year, the business earned ($0.22) EPS. The firm’s revenue was up 21.6% compared to the same quarter last year. On average, equities analysts forecast that Tempus AI, Inc. will post -1.38 EPS for the current year.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, Director Nadja West sold 3,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $69.00, for a total value of $207,000.00. Following the transaction, the director directly owned 31,981 shares of the company’s stock, valued at approximately $2,206,689. The trade was a 8.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric P. Lefkofsky sold 200,000 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $80.57, for a total transaction of $16,114,000.00. Following the transaction, the chief executive officer owned 809,631 shares of the company’s stock, valued at approximately $65,231,969.67. The trade was a 19.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,240,499 shares of company stock valued at $73,096,282. Corporate insiders own 24.26% of the company’s stock.

Hedge Funds Weigh In On Tempus AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEM. Sumitomo Mitsui Trust Group Inc. grew its holdings 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 acquiring an additional 821,490 shares during the period. Amova Asset Management Americas Inc. boosted its position in shares of Tempus AI by 23.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 4,326,313 shares of the company’s stock worth $195,549,000 after purchasing an additional 821,490 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tempus AI by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 1,870,510 shares of the company’s stock worth $110,478,000 after purchasing an additional 141,680 shares during the period. Franklin Resources Inc. increased its holdings in shares of Tempus AI by 27.9% in the 4th 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 in the last quarter. Finally, Lingotto Investment Management LLP lifted its stake in shares of 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 period. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.