Tempus AI (NASDAQ:TEM) Trading Up 6.2% - What's Next?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price was up 6.2% on Tuesday . The stock traded as high as $68.75 and last traded at $66.44. Approximately 8,060,694 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 6,376,617 shares. The stock had previously closed at $62.56.

Wall Street Analyst Weigh In

TEM has been the topic of a number of analyst reports. Wolfe Research downgraded shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. Bank of America lifted their target price on shares of Tempus AI from $48.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley lifted their target price 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. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $63.42.

Tempus AI Stock Up 0.3%

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The stock has a market cap of $9.45 billion and a price-to-earnings ratio of -7.00. The business's fifty day moving average is $52.07 and its two-hundred day moving average is $51.79.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly 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. The firm had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The company's revenue was up 75.4% on a year-over-year basis. Equities analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James William Rogers sold 23,121 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $63.27, for a total value of $1,462,865.67. Following the completion of the transaction, the chief financial officer now owns 146,001 shares in the company, valued at approximately $9,237,483.27. This represents a 13.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 3,000 shares of the company's stock in a transaction on 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 transaction, the director now owns 26,514 shares of the company's stock, valued at approximately $1,207,447.56. The trade was a 10.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 723,042 shares of company stock worth $37,642,690 in the last 90 days. Corporate insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TEM. SG Americas Securities LLC acquired a new position in shares of Tempus AI in the 4th quarter valued at $372,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tempus AI during the 4th quarter worth $1,091,000. Renaissance Capital LLC boosted its stake in Tempus AI by 121.3% during the 4th quarter. Renaissance Capital LLC now owns 24,757 shares of the company's stock worth $836,000 after purchasing an additional 13,569 shares during the period. abrdn plc acquired a new stake in Tempus AI during the 4th quarter worth $2,784,000. Finally, James J. Burns & Company LLC acquired a new stake in Tempus AI during the 4th quarter worth $236,000. Institutional investors and hedge funds own 24.22% of the company's stock.

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.