Tempus AI (NASDAQ:TEM) Trading Up 2.9% - Here's Why

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) were up 2.9% on Tuesday . The stock traded as high as $59.60 and last traded at $59.67. Approximately 2,877,796 shares were traded during trading, a decline of 63% from the average daily volume of 7,720,850 shares. The stock had previously closed at $58.01.

Analyst Ratings Changes

Several brokerages recently commented on TEM. Guggenheim increased their price objective on shares of Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. Bank of America increased their price objective 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. Morgan Stanley increased their price objective 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. Finally, Piper Sandler increased their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $65.09.

Tempus AI Stock Up 1.8%

The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.45. The business's fifty day simple moving average is $62.82 and its 200 day simple moving average is $56.34.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) 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 company's revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, research analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Transactions at Tempus AI

In other news, COO Ryan Fukushima sold 5,000 shares of Tempus AI stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief operating officer directly owned 145,000 shares in the company, valued at $8,700,000. This trade represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer A. Doudna sold 625 shares of Tempus AI stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $62.52, for a total transaction of $39,075.00. Following the transaction, the director 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. In the last ninety days, insiders have sold 612,522 shares of company stock valued at $41,600,238. Company insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Tempus AI during the fourth quarter worth about $3,757,000. LPL Financial LLC boosted its holdings in Tempus AI by 120.3% during the fourth quarter. LPL Financial LLC now owns 44,006 shares of the company's stock worth $1,486,000 after purchasing an additional 24,032 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in Tempus AI during the fourth quarter worth $338,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Tempus AI by 255.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,200 shares of the company's stock worth $2,269,000 after acquiring an additional 48,300 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Tempus AI by 86,947.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock worth $55,836,000 after acquiring an additional 1,651,996 shares during the period. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.