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

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

Analyst Ratings Changes

A number of analysts have recently weighed in on TEM shares. Needham & Company LLC reissued a "buy" rating and set a $70.00 price target on shares of Tempus AI in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lowered shares of Tempus AI from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Morgan Stanley upped their target price on shares of Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Piper Sandler lifted their price target on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Finally, Wolfe Research downgraded Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.42.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. The stock has a market capitalization of $11.83 billion and a P/E ratio of -8.76. The stock has a 50 day moving average of $58.73 and a 200 day moving average of $52.71.

Tempus AI (NASDAQ:TEM - Get Free Report) last released 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 business had revenue of $255.74 million during the quarter, compared to analyst estimates 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. Equities analysts predict that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Activity

In related news, 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 value of $136,620.00. Following the completion of the transaction, the director now owns 26,514 shares in the company, valued at $1,207,447.56. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the sale, the chief executive officer now owns 9,357,283 shares in the company, valued at $655,664,819.81. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 609,897 shares of company stock valued at $41,397,783. Insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On Tempus AI

Hedge funds have recently modified their holdings of the company. Private Advisor Group LLC bought a new position in Tempus AI during the fourth quarter valued at about $1,344,000. Sigma Planning Corp boosted its position in shares of Tempus AI by 43.9% during the 4th quarter. Sigma Planning Corp now owns 33,638 shares of the company's stock valued at $1,136,000 after purchasing an additional 10,269 shares in the last quarter. 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 purchasing an additional 1,108 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Tempus AI in the 4th quarter worth approximately $76,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Tempus AI in the 4th quarter worth approximately $1,615,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.