Tempus AI (NASDAQ:TEM) Shares Up 2.5% - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price traded up 2.5% on Wednesday . The stock traded as high as $62.40 and last traded at $62.64. 3,197,325 shares changed hands during trading, a decline of 59% from the average session volume of 7,751,302 shares. The stock had previously closed at $61.08.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Guggenheim increased their price target on Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a report on Monday, June 30th. Morgan Stanley lifted their price objective on shares of Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. Piper Sandler lifted their price objective 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. Finally, BTIG Research assumed coverage on Tempus AI in a research note on Monday, April 21st. They set a "buy" rating and a $60.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Tempus AI presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.09.

Tempus AI Stock Performance

The firm has a market capitalization of $10.97 billion and a price-to-earnings ratio of -8.13. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56. The firm has a 50 day moving average price of $62.81 and a 200-day moving average price of $56.18.

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, 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 firm had revenue of $255.74 million for the quarter, compared to analysts' expectations of $248.13 million. The company's revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, sell-side analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Transactions at Tempus AI

In related news, Director Theodore Leonsis sold 205,847 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $67.66, for a total value of $13,927,608.02. Following the sale, the director directly owned 15,511 shares of the company's stock, valued at approximately $1,049,474.26. This trade represents a 92.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Erik Phelps sold 51,317 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the completion of the transaction, the executive vice president owned 97,779 shares in the company, valued at $7,094,844.24. This represents a 34.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 612,522 shares of company stock worth $41,600,238 in the last quarter. 27.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Tempus AI

Several institutional investors have recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC bought a new position in shares of Tempus AI in the first quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Tempus AI during the 1st quarter valued at $33,000. Operose Advisors LLC acquired a new stake in shares of Tempus AI during the 4th quarter valued at $25,000. Bartlett & CO. Wealth Management LLC lifted its stake in Tempus AI by 100.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock valued at $39,000 after acquiring an additional 400 shares during the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in Tempus AI in the first quarter valued at approximately $39,000. Institutional investors own 24.22% of the company's stock.

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.