Tempus AI (NASDAQ:TEM) Trading 2.5% Higher - Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) rose 2.5% on Friday . The stock traded as high as $61.57 and last traded at $60.65. Approximately 6,389,112 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 7,393,926 shares. The stock had previously closed at $59.18.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. 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 objective on the stock. Bank of America upped their target price on shares of Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Piper Sandler raised their price objective on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.67.

Tempus AI Trading Up 2.5%

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 stock has a market capitalization of $10.50 billion and a P/E ratio of -7.78. The business's fifty day simple moving average is $62.37 and its two-hundred day simple moving average is $53.83.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate 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 business 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. As a group, 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 other Tempus AI news, Director Theodore Leonsis sold 205,847 shares of the firm's stock in a transaction dated 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 completion of the sale, the director owned 15,511 shares in the company, valued at approximately $1,049,474.26. This trade represents a 92.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer A. Doudna sold 625 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $62.52, for a total value of $39,075.00. Following the sale, the director directly owned 26,554 shares of the company's stock, valued at $1,660,156.08. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 607,522 shares of company stock worth $41,300,238 over the last 90 days. Company insiders own 27.60% of the company's stock.

Institutional Trading of Tempus AI

Several hedge funds have recently added to or reduced their stakes in TEM. ARK Investment Management LLC increased its stake 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Tempus AI by 6,247.5% during the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after acquiring an additional 5,900,668 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Tempus AI by 31.5% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after acquiring an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI by 31.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after acquiring an additional 1,016,384 shares during the period. Finally, Franklin Resources Inc. lifted its position in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after acquiring an additional 1,950,862 shares in the last quarter. 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.

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