Tempus AI (NASDAQ:TEM) Shares Up 2.7% - Here's Why

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shot up 2.7% during trading on Thursday . The company traded as high as $60.38 and last traded at $59.99. 3,129,928 shares traded hands during trading, a decline of 58% from the average session volume of 7,450,262 shares. The stock had previously closed at $58.41.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Guggenheim lifted their target price on shares of Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. BTIG Research started coverage on shares of Tempus AI in a research report on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. Piper Sandler boosted their target price on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Morgan Stanley boosted their target price 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. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.09.

Tempus AI Stock Up 3.8%

The firm has a market capitalization of $10.50 billion and a PE ratio of -7.77. The firm's 50 day moving average price is $62.83 and its two-hundred day moving average price is $54.48. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $248.13 million. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The firm's quarterly revenue was up 75.4% compared to the same quarter last year. As a group, research analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Transactions at Tempus AI

In related news, Director Theodore Leonsis sold 205,847 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $67.66, for a total value of $13,927,608.02. Following the sale, the director owned 15,511 shares of the company's stock, valued at $1,049,474.26. This trade represents a 92.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 9,357,283 shares in the company, valued at approximately $655,664,819.81. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 612,522 shares of company stock valued at $41,600,238 over the last ninety days. 27.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEM. ARK Investment Management LLC lifted its stake in Tempus AI by 35.9% in the first quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock valued at $361,867,000 after acquiring an additional 1,981,755 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tempus AI by 6,247.5% in the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after buying an additional 5,900,668 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Tempus AI by 31.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after buying an additional 1,021,460 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 31.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after buying an additional 1,950,862 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

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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