Tempus AI (NASDAQ:TEM) Trading Up 3.3% After Analyst Upgrade

Shares of Tempus AI, Inc. (NASDAQ:TEM) shot up 3.3% on Thursday after Bank of America raised their price target on the stock from $68.00 to $70.00. Bank of America currently has a neutral rating on the stock. Tempus AI traded as high as $68.44 and last traded at $67.63. 3,102,083 shares changed hands during trading, a decline of 57% from the average session volume of 7,149,936 shares. The stock had previously closed at $65.47.

Several other equities research analysts have also commented on the stock. Morgan Stanley boosted their price target on shares of Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Piper Sandler boosted their target price on shares of Tempus AI from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.58.

Insider Activity

In other Tempus AI news, Director Theodore Leonsis sold 205,847 shares of Tempus AI stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the transaction, the director now directly owns 15,511 shares of the company’s stock, valued at $1,049,474.26. The trade was a 92.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the transaction, the director now owns 26,514 shares in the company, valued at $1,207,447.56. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,897 shares of company stock worth $41,397,783 over the last ninety days. Corporate insiders own 27.60% of the company’s stock.

Institutional Trading of Tempus AI

A number of hedge funds and other institutional investors have recently made changes to their positions in TEM. Operose Advisors LLC purchased a new position in Tempus AI in the fourth quarter worth approximately $25,000. Cherry Tree Wealth Management LLC acquired a new position in shares of Tempus AI in the 1st quarter valued at $31,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Tempus AI during the 1st quarter worth $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Tempus AI during the 4th quarter worth about $34,000. Finally, Prestige Wealth Management Group LLC increased its position in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after purchasing an additional 965 shares during the last quarter. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Stock Performance

The firm’s fifty day moving average is $60.74 and its 200-day moving average is $53.15. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $11.83 billion and a PE ratio of -8.76.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The business had revenue of $255.74 million for the quarter, compared to the consensus estimate of $248.13 million. Tempus AI’s revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, research analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

About Tempus AI

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.