Tempus AI (NASDAQ:TEM) Stock Price Up 3.1% - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was up 3.1% during trading on Tuesday . The stock traded as high as $68.81 and last traded at $67.70. Approximately 3,230,482 shares traded hands during trading, a decline of 54% from the average daily volume of 7,093,864 shares. The stock had previously closed at $65.65.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEM shares. Morgan Stanley lifted their price target on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Piper Sandler lifted their target price on shares of Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a research report on Wednesday, May 7th. Bank of America lifted their price objective on shares of Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, BTIG Research assumed 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Tempus AI presently has a consensus rating of "Moderate Buy" and an average target price of $63.58.

Tempus AI Stock Performance

The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $11.51 billion and a PE ratio of -8.53. The firm's fifty day moving average price is $60.74 and its 200 day moving average price is $53.15.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.03. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The firm had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. The business's revenue was up 75.4% on a year-over-year basis. On average, research analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Andrew Polovin sold 17,552 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $63.43, for a total value of $1,113,323.36. Following the completion of the sale, the executive vice president now directly owns 138,877 shares in the company, valued at approximately $8,808,968.11. This represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Erik Phelps sold 51,317 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $72.56, for a total value of $3,723,561.52. Following the transaction, the executive vice president now owns 97,779 shares in the company, valued at approximately $7,094,844.24. This trade represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,897 shares of company stock worth $41,397,783. Insiders own 27.60% of the company's stock.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new position in Tempus AI during the fourth quarter valued at approximately $1,344,000. First Horizon Advisors Inc. grew its stake in Tempus AI by 207.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after buying an additional 1,108 shares during the last quarter. IFP Advisors Inc bought a new position in Tempus AI in the 4th quarter worth $76,000. Bank of New York Mellon Corp bought a new position in Tempus AI in the 4th quarter worth $1,615,000. Finally, US Bancorp DE acquired a new position in Tempus AI during the 4th quarter worth $80,000. 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.