Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume Following Strong Earnings

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 6,796,319 shares changed hands during trading, an increase of 17% from the previous session's volume of 5,800,053 shares.The stock last traded at $53.95 and had previously closed at $52.19.

The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. The company's quarterly revenue was up 75.4% compared to the same quarter last year.

Analysts Set New Price Targets

TEM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a report on Wednesday. Piper Sandler reduced their price objective on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Loop Capital dropped their target price on Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Finally, TD Cowen reissued a "buy" rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.08.

Insider Activity at Tempus AI

In other Tempus AI news, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $90.00, for a total transaction of $118,800.00. Following the completion of the sale, the director now owns 36,011 shares of the company's stock, valued at $3,240,990. This represents a 3.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric P. Lefkofsky sold 80,388 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.53, for a total transaction of $5,428,601.64. Following the transaction, the chief executive officer now directly owns 5,293,005 shares in the company, valued at approximately $357,436,627.65. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,297,949 shares of company stock valued at $255,591,733. Insiders own 27.60% 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. First Horizon Advisors Inc. increased its stake in shares of Tempus AI by 12.7% in the 1st quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company's stock worth $89,000 after acquiring an additional 208 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in shares of Tempus AI by 100.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock worth $39,000 after purchasing an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tempus AI by 10.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company's stock worth $268,000 after purchasing an additional 515 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC purchased a new stake in shares of Tempus AI in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Price Performance

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The stock has a 50-day moving average of $47.88 and a two-hundred day moving average of $50.70.

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.

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