Shares of Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $65.50 and last traded at $64.6250. 966,759 shares changed hands during trading, a decline of 84% from the average session volume of 6,009,018 shares. The stock had previously closed at $62.21.
Analyst Ratings Changes
TEM has been the topic of several research reports. Roth Capital assumed coverage on shares of Tempus AI in a research report on Tuesday, September 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Freedom Capital upgraded Tempus AI to a “hold” rating in a report on Tuesday, June 30th. Rothschild & Co Redburn started coverage on Tempus AI in a report on Tuesday, September 8th. They set a “neutral” rating and a $67.00 target price for the company. UBS Group initiated coverage on Tempus AI in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, Raymond James Financial set a $80.00 price target on Tempus AI in a report on Wednesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.33.
Get Our Latest Stock Analysis on Tempus AI
Tempus AI Trading Up 6.8%
Tempus AI (NASDAQ:TEM – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The firm had revenue of $382.49 million for 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%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. As a group, analysts predict that Tempus AI, Inc. will post -1.38 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Tempus AI news, CFO James Rogers sold 26,313 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $60.00, for a total value of $1,578,780.00. Following the completion of the transaction, the chief financial officer directly owned 106,024 shares in the company, valued at $6,361,440. This trade represents a 19.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric Lefkofsky sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $42.06, for a total value of $10,515,000.00. Following the transaction, the chief executive officer directly owned 200,000 shares in the company, valued at $8,412,000. This trade represents a 55.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,043,988 shares of company stock valued at $56,963,417. 24.26% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Tempus AI
A number of institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in Tempus AI during the second quarter worth $342,000. Engineers Gate Manager LP acquired a new position in shares of Tempus AI during the 2nd quarter worth about $637,000. Integrated Wealth Concepts LLC bought a new stake in shares of Tempus AI in the 2nd quarter valued at about $145,000. Baird Financial Group Inc. raised its holdings in shares of Tempus AI by 3.4% in the 2nd quarter. Baird Financial Group Inc. now owns 30,434 shares of the company’s stock valued at $1,763,000 after purchasing an additional 994 shares during the period. Finally, Arizona State Retirement System lifted its stake in Tempus AI by 13.3% in the 2nd quarter. Arizona State Retirement System now owns 28,867 shares of the company’s stock valued at $1,672,000 after purchasing an additional 3,384 shares during the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.
Tempus AI Company Profile
Tempus AI, Inc is a healthcare technology company focused on applying artificial intelligence and data analytics to precision medicine. The company combines molecular testing, clinical data and machine learning to help physicians make more informed treatment decisions and support the development of new therapies.
Tempus provides genomic and diagnostic testing services, including testing intended to identify clinically relevant mutations and other biomarkers. Its technology platform also organizes and analyzes clinical and molecular data, while its AI-enabled tools are designed to assist healthcare professionals with patient care, research and workflow management.
The company serves healthcare providers, patients, pharmaceutical companies and biotechnology researchers, primarily in the United States.
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