Tempus AI (NASDAQ:TEM) Stock Price Up 1.2% - Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) were up 1.2% during trading on Wednesday . The company traded as high as $70.50 and last traded at $70.97. Approximately 4,723,458 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 7,026,836 shares. The stock had previously closed at $70.11.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TEM shares. Piper Sandler increased their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Wolfe Research downgraded shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Bank of America lifted their price target on Tempus AI from $48.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Tempus AI has an average rating of "Moderate Buy" and a consensus price target of $63.42.

Tempus AI Trading Down 2.6%

The firm has a 50 day moving average price of $57.12 and a two-hundred day moving average price of $52.50. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45. The company has a market cap of $11.82 billion and a price-to-earnings ratio of -8.88.

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 analysts' consensus estimates of ($0.27) by $0.03. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The firm had revenue of $255.74 million for the quarter, compared to the consensus estimate of $248.13 million. The business's revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, equities analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Buying and Selling at Tempus AI

In related news, Director Theodore Leonsis sold 205,847 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the transaction, the director now directly owns 15,511 shares of the company's stock, valued at approximately $1,049,474.26. This represents a 92.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Polovin sold 17,552 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.43, for a total value of $1,113,323.36. Following the completion of the transaction, the executive vice president now owns 138,877 shares in the company, valued at approximately $8,808,968.11. The trade was a 11.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 308,580 shares of company stock valued at $20,156,721. 27.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors have recently modified their holdings of the company. Operose Advisors LLC bought a new position in shares of Tempus AI during the 4th quarter worth approximately $25,000. Cherry Tree Wealth Management LLC bought a new position in Tempus AI in the first quarter valued at $31,000. University of Texas Texas AM Investment Management Co. purchased a new position in Tempus AI in the 1st quarter worth $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Tempus AI during the fourth quarter valued at approximately $34,000. Finally, Prestige Wealth Management Group LLC increased its holdings in Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after purchasing an additional 965 shares during the period. 24.22% of the stock is owned by institutional investors and hedge funds.

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.

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