Tempus AI (NASDAQ:TEM) Shares Up 4.5% - Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares shot up 4.5% during trading on Wednesday . The stock traded as high as $59.71 and last traded at $58.38. 5,686,985 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 7,573,677 shares. The stock had previously closed at $55.89.

Analyst Upgrades and Downgrades

Several research firms have commented on TEM. Morgan Stanley lifted their price target on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. BTIG Research began coverage on Tempus AI in a report on Monday, April 21st. They issued a "buy" rating and a $60.00 price target for the company. Guggenheim lifted 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. Needham & Company LLC restated a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a report on Wednesday, May 7th. Finally, Bank of America lifted their price target on Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tempus AI currently has an average rating of "Moderate Buy" and an average target price of $65.09.

Tempus AI Stock Down 0.1%

The firm has a market capitalization of $10.49 billion and a price-to-earnings ratio of -7.75. 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 50 day moving average price of $63.06 and a two-hundred day moving average price of $55.46.

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 for the quarter, beating the consensus estimate of ($0.27) by $0.03. The business had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. Tempus AI's quarterly revenue was up 75.4% compared to the same quarter last year. On average, equities analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Erik Phelps sold 51,317 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 97,779 shares of the company's stock, valued at approximately $7,094,844.24. The trade was a 34.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the transaction, the chief operating officer directly owned 884,460 shares in the company, valued at $46,310,325.60. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,522 shares of company stock worth $41,600,238 in the last ninety days. 27.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Operose Advisors LLC acquired a new position in shares of Tempus AI in the 4th quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC acquired a new position in shares of Tempus AI in the 1st quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Tempus AI in the 1st quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Tempus AI in the 4th quarter valued at approximately $34,000. Finally, Prestige Wealth Management Group LLC raised its position in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. 24.22% of the stock is 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.