Tempus AI (NASDAQ:TEM) Sees Unusually-High Trading Volume - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares saw strong trading volume on Monday . 6,644,664 shares changed hands during trading, a decline of 1% from the previous session's volume of 6,687,232 shares.The stock last traded at $60.16 and had previously closed at $55.18.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Bank of America increased their target price on Tempus AI from $48.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a report on Wednesday, May 7th. TD Cowen reiterated a "buy" rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, Wolfe Research cut Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $63.42.

Tempus AI Stock Performance

The stock has a market capitalization of $10.73 billion and a P/E ratio of -7.94. The firm has a 50-day moving average of $52.48 and a 200 day moving average of $51.90. 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 - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The business's revenue for the quarter was up 75.4% on a year-over-year basis. Research analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eric P. Lefkofsky sold 562,345 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total value of $28,640,230.85. Following the completion of the sale, the chief executive officer now directly owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. This trade represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David R. Epstein sold 990 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $46.83, for a total transaction of $46,361.70. Following the completion of the transaction, the director now directly owns 26,284 shares of the company's stock, valued at approximately $1,230,879.72. This represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 702,233 shares of company stock worth $36,578,342. Company insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Operose Advisors LLC acquired a new position in shares of Tempus AI during the fourth quarter valued at $25,000. Cherry Tree Wealth Management LLC bought a new position in shares of Tempus AI in the 1st quarter valued at about $31,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Tempus AI during the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new stake in shares of Tempus AI during the fourth quarter worth approximately $34,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after buying an additional 965 shares during the period. Institutional investors and hedge funds own 24.22% of the company's stock.

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.