Tempus AI (NASDAQ:TEM) Shares Down 1.8% - What's Next?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price dropped 1.8% during trading on Friday . The stock traded as low as $58.55 and last traded at $58.55. Approximately 1,782,873 shares traded hands during trading, a decline of 76% from the average daily volume of 7,474,387 shares. The stock had previously closed at $59.60.

Analyst Upgrades and Downgrades

TEM has been the topic of several research analyst reports. Bank of America raised their target price on shares of Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Morgan Stanley raised their target price on shares of Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. BTIG Research initiated coverage on shares of Tempus AI in a research note on Monday, April 21st. They set a "buy" rating and a $60.00 target price on the stock. Piper Sandler raised their target price on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.09.

Tempus AI Stock Performance

The firm's fifty day simple moving average is $62.98 and its 200 day simple moving average is $54.65. The company has a market capitalization of $10.01 billion and a price-to-earnings ratio of -7.42. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its 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. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The company had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. The firm's revenue was up 75.4% on a year-over-year basis. On average, sell-side analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric P. Lefkofsky sold 250,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the completion of the sale, the chief executive officer directly owned 9,357,283 shares in the company, valued at approximately $655,664,819.81. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total transaction of $1,047,200.00. Following the sale, the chief operating officer owned 884,460 shares of the company's stock, valued at approximately $46,310,325.60. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 612,522 shares of company stock valued at $41,600,238. Company insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its position in Tempus AI by 12.7% during the first quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company's stock valued at $89,000 after acquiring an additional 208 shares in the last quarter. Wells Fargo & Company MN raised its position in 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 acquiring an additional 278 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in Tempus AI by 100.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock valued at $39,000 after acquiring an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Tempus AI by 10.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company's stock valued at $268,000 after acquiring an additional 515 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Tempus AI by 6.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,681 shares of the company's stock valued at $590,000 after acquiring an additional 560 shares in the last quarter. Institutional investors 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.

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