Shares of Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) shot up 9.3% during mid-day trading on Thursday . The company traded as high as $51.40 and last traded at $51.9130. 2,426,541 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 5,704,903 shares. The stock had previously closed at $47.51.
Analysts Set New Price Targets
A number of brokerages recently issued reports on TEM. Guggenheim reduced their target price on Tempus AI from $95.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 30th. TD Cowen raised their target price on Tempus AI from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Tempus AI in a research report on Monday. Stifel Nicolaus set a $60.00 target price on Tempus AI in a research report on Wednesday, February 25th. Finally, BTIG Research reiterated a “buy” rating and issued a $80.00 price objective on shares of Tempus AI in a report on Monday. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of “Hold” and an average target price of $68.64.
Get Our Latest Stock Analysis on Tempus AI
Tempus AI Trading Up 10.6%
Tempus AI (NASDAQ:TEM – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.08. The business had revenue of $348.12 million for the quarter, compared to analysts’ expectations of $345.44 million. Tempus AI had a negative return on equity of 53.83% and a negative net margin of 22.20%.The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) EPS. On average, research analysts predict that Tempus AI, Inc. will post -1.35 EPS for the current fiscal year.
Insider Buying and Selling at Tempus AI
In other news, CFO James William Rogers sold 10,853 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $44.07, for a total transaction of $478,291.71. Following the transaction, the chief financial officer directly owned 126,395 shares in the company, valued at $5,570,227.65. The trade was a 7.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Andrew Polovin sold 8,703 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $44.07, for a total value of $383,541.21. Following the transaction, the executive vice president owned 128,215 shares in the company, valued at approximately $5,650,435.05. This represents a 6.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 558,557 shares of company stock worth $26,611,939. 24.26% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPL Wealth Management LLC purchased a new stake in shares of Tempus AI during the 3rd quarter valued at approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Tempus AI during the 4th quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Tempus AI during the 3rd quarter valued at approximately $38,000. Whittier Trust Co. raised its position in shares of Tempus AI by 190.0% during the 1st quarter. Whittier Trust Co. now owns 870 shares of the company’s stock valued at $41,000 after buying an additional 570 shares during the period. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Tempus AI during the 4th quarter valued at approximately $42,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.
Tempus AI Company Profile
Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.
The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.
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