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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $70.00 target price on shares of Tempus AI in a research report on Wednesday, May 7th. BTIG Research initiated coverage on shares of Tempus AI in a report on Monday, April 21st. They set a "buy" rating and a $60.00 price objective on the stock. Bank of America boosted their target price on shares of Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Morgan Stanley upped their price target on shares of Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Guggenheim lifted their price target on shares of Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a report on Monday, June 30th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.09.

Tempus AI Price Performance

The company's fifty day moving average is $62.98 and its two-hundred day moving average is $55.08. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. The firm has a market cap of $10.01 billion and a price-to-earnings ratio of -7.41.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The company had revenue of $255.74 million for the quarter, compared to analysts' expectations of $248.13 million. The company's quarterly revenue was up 75.4% on a year-over-year basis. Equities research analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Activity

In related news, COO Ryan Fukushima sold 20,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $52.36, for a total transaction of $1,047,200.00. Following the completion of the sale, the chief operating officer directly owned 884,460 shares of the company's stock, valued at approximately $46,310,325.60. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Erik Phelps sold 51,317 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the completion of the transaction, the executive vice president owned 97,779 shares in the company, valued at $7,094,844.24. This represents a 34.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 612,522 shares of company stock worth $41,600,238 in the last ninety days. 27.60% of the stock is currently owned by company insiders.

Institutional Trading of Tempus AI

Several large investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in shares of Tempus AI in the fourth quarter worth about $216,000. Wells Fargo & Company MN increased its holdings in Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock worth $80,000 after purchasing an additional 278 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Tempus AI in the 1st quarter valued at approximately $535,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock valued at $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Tempus AI during the first quarter worth approximately $1,019,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.