Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $49.36, but opened at $55.98. Tempus AI shares last traded at $56.4130, with a volume of 4,514,591 shares trading hands.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on TEM shares. Stifel Nicolaus cut their target price on shares of Tempus AI from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, August 3rd. Piper Sandler lowered their target price on Tempus AI from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Wolfe Research assumed coverage on Tempus AI in a report on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Weiss Ratings upgraded Tempus AI from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective on shares of Tempus AI in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.92.
Check Out Our Latest Stock Analysis on Tempus AI
Tempus AI Price Performance
Tempus AI (NASDAQ:TEM – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $382.49 million during the quarter, compared to analysts’ expectations of $379.69 million. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. Tempus AI’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. As a group, sell-side analysts predict that Tempus AI, Inc. will post -1.38 earnings per share for the current year.
Insider Transactions at Tempus AI
In other news, CEO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.04, for a total value of $1,000,800.00. Following the transaction, the chief executive officer directly owned 123,945 shares of the company’s stock, valued at $6,202,207.80. The trade was a 13.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $42.06, for a total transaction of $10,515,000.00. Following the completion of the transaction, the chief executive officer directly owned 200,000 shares in the company, valued at $8,412,000. The trade was a 55.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 684,424 shares of company stock worth $33,255,565 in the last three months. Corporate insiders own 24.26% of the company’s stock.
Hedge Funds Weigh In On Tempus AI
Several institutional investors have recently added to or reduced their stakes in TEM. Royal Bank of Canada raised its stake in Tempus AI by 201.2% during the 1st quarter. Royal Bank of Canada now owns 25,988 shares of the company’s stock valued at $1,253,000 after acquiring an additional 17,359 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Tempus AI in the first quarter valued at approximately $116,000. Prudential Financial Inc. purchased a new stake in shares of Tempus AI during the second quarter worth approximately $276,000. Russell Investments Group Ltd. raised its stake in shares of Tempus AI by 21.3% during the second quarter. Russell Investments Group Ltd. now owns 6,527 shares of the company’s stock worth $415,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tempus AI by 2,926.6% during the second quarter. Invesco Ltd. now owns 211,621 shares of the company’s stock worth $13,446,000 after purchasing an additional 204,629 shares during the period. Institutional investors and hedge funds own 24.22% of the company’s stock.
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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