Tempus AI (NASDAQ:TEM) Given New $80.00 Price Target at Canaccord Genuity Group

Tempus AI (NASDAQ:TEM) had its target price reduced by Canaccord Genuity Group from $95.00 to $80.00 in a report published on Monday, MarketBeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

TEM has been the subject of several other research reports. BTIG Research raised their target price on Tempus AI from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Piper Sandler reduced their price objective on Tempus AI from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Needham & Company LLC upped their target price on Tempus AI from $70.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. HC Wainwright decreased their price target on shares of Tempus AI from $98.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Guggenheim upped their price objective on shares of Tempus AI from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.00.

Tempus AI Price Performance

TEM stock opened at $65.92 on Monday. Tempus AI has a one year low of $31.36 and a one year high of $104.32. The firm has a 50-day moving average of $77.26 and a two-hundred day moving average of $73.86. The firm has a market capitalization of $11.73 billion, a PE ratio of -55.39 and a beta of 5.00. The company has a current ratio of 3.28, a quick ratio of 3.12 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM) last released its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The business had revenue of $334.21 million for the quarter, compared to the consensus estimate of $328.89 million. Tempus AI had a negative net margin of 18.45% and a negative return on equity of 73.21%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.46) earnings per share. On average, analysts forecast that Tempus AI will post -6.15 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Erik Phelps sold 1,302 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $67.42, for a total transaction of $87,780.84. Following the transaction, the executive vice president owned 89,280 shares in the company, valued at $6,019,257.60. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric P. Lefkofsky sold 166,250 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $63.99, for a total transaction of $10,638,337.50. Following the transaction, the chief executive officer owned 8,974,783 shares in the company, valued at $574,296,364.17. This represents a 1.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,265,332 shares of company stock valued at $96,780,524. 26.27% of the stock is owned by company insiders.

Institutional Trading of Tempus AI

Several large investors have recently made changes to their positions in the stock. Cranbrook Wealth Management LLC acquired a new position in shares of Tempus AI during the 3rd quarter valued at about $25,000. JPL Wealth Management LLC acquired a new position in Tempus AI during the third quarter valued at approximately $26,000. GAMMA Investing LLC bought a new position in shares of Tempus AI in the third quarter valued at approximately $28,000. Concord Wealth Partners lifted its stake in shares of Tempus AI by 308.0% in the second quarter. Concord Wealth Partners now owns 408 shares of the company’s stock worth $26,000 after buying an additional 308 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Tempus AI by 5,000.0% in the second quarter. Allworth Financial LP now owns 459 shares of the company’s stock worth $29,000 after buying an additional 450 shares during the last quarter. Institutional investors own 24.22% of the company’s stock.

About Tempus AI

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.