Tempus AI (NASDAQ:TEM) Shares Up 6.2% – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price traded up 6.2% on Tuesday . The company traded as high as $68.75 and last traded at $66.44. 8,060,694 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 6,376,617 shares. The stock had previously closed at $62.56.

Analysts Set New Price Targets

Several analysts recently commented on TEM shares. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Morgan Stanley lifted their price objective on shares of Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Finally, Bank of America lifted their price objective on shares of Tempus AI from $48.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.42.

Tempus AI Trading Up 3.9%

The stock has a market capitalization of $11.20 billion and a price-to-earnings ratio of -8.35. The company’s 50-day moving average is $51.85 and its 200-day moving average is $52.05. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The company’s revenue was up 75.4% on a year-over-year basis. Research analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the sale, the chief operating officer now directly owns 924,460 shares in the company, valued at approximately $47,286,129. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares in the company, valued at $287,615,853.75. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,963,276 shares of company stock worth $228,006,438 in the last three months. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Tempus AI in the fourth quarter valued at $372,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tempus AI during the fourth quarter worth about $1,091,000. Renaissance Capital LLC boosted its position in Tempus AI by 121.3% during the fourth quarter. Renaissance Capital LLC now owns 24,757 shares of the company’s stock valued at $836,000 after purchasing an additional 13,569 shares during the last quarter. abrdn plc acquired a new stake in shares of Tempus AI in the fourth quarter valued at approximately $2,784,000. Finally, James J. Burns & Company LLC acquired a new stake in shares of Tempus AI in the fourth quarter valued at approximately $236,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.