Tempus AI (NASDAQ:TEM) Shares Up 1.2% - Here's What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shot up 1.2% during trading on Friday . The company traded as high as $60.18 and last traded at $59.93. 4,409,370 shares were traded during mid-day trading, a decline of 30% from the average session volume of 6,341,949 shares. The stock had previously closed at $59.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEM. Morgan Stanley lifted their price objective on shares of Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. TD Cowen reiterated a "buy" rating and set a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Bank of America raised their price objective on Tempus AI from $48.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, BTIG Research initiated coverage on Tempus AI in a report on Monday, April 21st. They set a "buy" rating and a $60.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Tempus AI has a consensus rating of "Moderate Buy" and an average price target of $63.42.

Tempus AI Price Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock has a fifty day simple moving average of $51.22 and a 200-day simple moving average of $52.07. The company has a market capitalization of $10.78 billion and a price-to-earnings ratio of -8.03.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (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 analyst estimates of $248.13 million. The company's quarterly revenue was up 75.4% on a year-over-year basis. On average, equities research analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Activity

In other news, CAO Ryan M. Bartolucci sold 6,073 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.23, for a total value of $383,995.79. Following the transaction, the chief accounting officer now owns 47,799 shares in the company, valued at $3,022,330.77. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ryan Fukushima sold 7,820 shares of Tempus AI stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $63.21, for a total transaction of $494,302.20. Following the transaction, the chief operating officer now directly owns 876,640 shares in the company, valued at $55,412,414.40. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,963,276 shares of company stock worth $228,006,438 in the last ninety days. Company insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently modified their holdings of the business. Operose Advisors LLC acquired a new position in Tempus AI in the fourth quarter valued at about $25,000. Cherry Tree Wealth Management LLC purchased a new stake in shares of Tempus AI in the 1st quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Tempus AI in the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Tempus AI during the 4th quarter worth approximately $34,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.