Tempus AI (NASDAQ:TEM) Stock Jumps 4% on Analyst Upgrade

Tempus AI, Inc. (NASDAQ:TEM)’s share price shot up 4% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $45.00 to $70.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Tempus AI traded as high as $70.15 and last traded at $70.9790. 1,277,730 shares traded hands during trading, a decline of 79% from the average daily volume of 6,196,327 shares. The stock had previously closed at $68.22.

TEM has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of Tempus AI in a research report on Friday, July 31st. Rothschild & Co Redburn started coverage on shares of Tempus AI in a research report on Tuesday, September 8th. They issued a “neutral” rating and a $67.00 price target on the stock. Piper Sandler upgraded shares of Tempus AI from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $56.00 to $76.00 in a report on Tuesday, September 1st. Roth Capital assumed coverage on Tempus AI in a report on Tuesday, September 8th. They issued a “neutral” rating and a $67.00 target price on the stock. Finally, Freedom Capital raised Tempus AI to a “hold” rating in a research report on Tuesday, June 30th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.37.

Insider Buying and Selling

In related news, CAO Ryan Bartolucci sold 7,062 shares of Tempus AI stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $75.00, for a total value of $529,650.00. Following the completion of the sale, the chief accounting officer owned 60,804 shares of the company’s stock, valued at approximately $4,560,300. The trade was a 10.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Lefkofsky sold 250,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $77.47, for a total value of $19,367,500.00. Following the sale, the chief executive officer owned 100,000 shares of the company’s stock, valued at approximately $7,747,000. This trade represents a 71.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,280,965 shares of company stock valued at $80,397,564. 24.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors have recently added to or reduced their stakes in the stock. Eagle Health Investments LP acquired a new stake in shares of Tempus AI during the 1st quarter worth about $11,588,000. Aristotle Atlantic Partners LLC bought a new stake in Tempus AI during the 1st quarter worth approximately $6,179,000. Headlands Technologies LLC acquired a new stake in Tempus AI during the 2nd quarter valued at $2,689,000. Odyssean LLC acquired a new position in Tempus AI in the second quarter worth $897,000. Finally, Virtu Financial LLC grew its holdings in Tempus AI by 384.6% during the 4th quarter. Virtu Financial LLC now owns 54,797 shares of the company’s stock worth $3,236,000 after acquiring an additional 43,490 shares during the last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

Tempus AI Price Performance

The firm has a market capitalization of $12.83 billion, a P/E ratio of -49.40 and a beta of 3.54. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.30 and a quick ratio of 3.16. The company’s 50 day moving average price is $67.81 and its 200 day moving average price is $56.43.

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

Tempus AI Company Profile

Tempus AI, Inc is a technology company focused on applying artificial intelligence and data analytics to precision medicine. The company develops tools intended to help physicians make more informed treatment decisions by combining clinical information, molecular data and other health-related datasets.

Tempus provides genomic testing and diagnostic services, including sequencing and other molecular tests used primarily in oncology. Its platform also offers data and software solutions designed to support clinical research, pharmaceutical development, patient identification for clinical trials and the development of personalized treatment strategies.

Founded in 2015, Tempus is headquartered in Chicago and primarily serves healthcare providers, researchers and life sciences companies.