Tempus AI (NASDAQ:TEM) Shares Up 1.8% - What's Next?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares traded up 1.8% during trading on Thursday . The stock traded as high as $62.35 and last traded at $61.08. 5,382,486 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 7,625,172 shares. The stock had previously closed at $59.97.

Analyst Ratings Changes

TEM has been the topic of a number of research analyst reports. 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. BTIG Research started coverage on Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price target on shares of Tempus AI in a research report on Wednesday, May 7th. Guggenheim boosted their price target on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Bank of America boosted their price target on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.09.

Tempus AI Trading Down 0.1%

The company has a 50 day moving average price of $63.06 and a 200 day moving average price of $55.46. The firm has a market cap of $10.49 billion and a price-to-earnings ratio of -7.78. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate 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 business had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The company's revenue for the quarter was up 75.4% on a year-over-year basis. On average, research analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Eric P. Lefkofsky sold 250,000 shares of the 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 transaction, the chief executive officer owned 9,357,283 shares of the company's stock, valued at approximately $655,664,819.81. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James William Rogers sold 23,121 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $63.27, for a total value of $1,462,865.67. Following the transaction, the chief financial officer directly owned 146,001 shares in the company, valued at approximately $9,237,483.27. The trade was a 13.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 612,522 shares of company stock worth $41,600,238. Corporate insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC increased its holdings in Tempus AI by 35.9% during the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock worth $361,867,000 after purchasing an additional 1,981,755 shares during the period. Vanguard Group Inc. increased its holdings in Tempus AI by 6,247.5% during the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after purchasing an additional 5,900,668 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in Tempus AI by 31.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after purchasing an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after purchasing an additional 1,016,384 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the period. 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.