Tempus AI (NASDAQ:TEM) Shares Up 3.3% Following Analyst Upgrade

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares rose 3.3% during trading on Thursday after Bank of America raised their price target on the stock from $68.00 to $70.00. Bank of America currently has a neutral rating on the stock. Tempus AI traded as high as $68.44 and last traded at $67.63. Approximately 3,102,083 shares changed hands during trading, a decline of 57% from the average daily volume of 7,149,936 shares. The stock had previously closed at $65.47.

TEM has been the topic of a number of other research reports. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $50.00 to $55.00 in a report on Tuesday, February 25th. BTIG Research assumed coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 target price on the stock. Morgan Stanley upped their price objective on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wolfe Research lowered shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $63.58.

Insider Activity

In other Tempus AI news, EVP Andrew Polovin sold 17,552 shares of Tempus AI stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $63.43, for a total transaction of $1,113,323.36. Following the sale, the executive vice president now owns 138,877 shares of the company's stock, valued at $8,808,968.11. The trade was a 11.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 3,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the sale, the director now owns 26,514 shares of the company's stock, valued at $1,207,447.56. This trade represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,897 shares of company stock worth $41,397,783 over the last 90 days. 27.60% of the stock is currently owned by company insiders.

Institutional Trading of Tempus AI

Several large investors have recently bought and sold shares of the business. Private Advisor Group LLC purchased a new position in Tempus AI during the fourth quarter worth approximately $1,344,000. First Horizon Advisors Inc. boosted its position in shares of Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after acquiring an additional 1,108 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of Tempus AI during the 4th quarter worth approximately $76,000. Bank of New York Mellon Corp purchased a new stake in Tempus AI in the fourth quarter valued at $1,615,000. Finally, ARK Investment Management LLC increased its position in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56. The stock's 50-day simple moving average is $60.18 and its 200 day simple moving average is $53.00.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. The business 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 company's quarterly revenue was up 75.4% compared to the same quarter last year. As a group, analysts predict that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

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.