Tempus AI, Inc. (NASDAQ:TEM – Get Free Report)’s share price was down 7.4% during mid-day trading on Monday . The company traded as low as $66.93 and last traded at $67.2750. 4,797,900 shares changed hands during trading, a decline of 20% from the average daily volume of 5,995,311 shares. The stock had previously closed at $72.69.
Analyst Ratings Changes
TEM has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Tempus AI from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen raised shares of Tempus AI from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. BTIG Research upped their price objective on shares of Tempus AI from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Tempus AI from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Finally, Freedom Capital upgraded shares of Tempus AI to a “hold” rating in a report on Tuesday, June 30th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.69.
Get Our Latest Analysis on TEM
Tempus AI Price Performance
Tempus AI (NASDAQ:TEM – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $382.49 million for the quarter, compared to the consensus estimate of $379.69 million. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%.The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the business earned ($0.22) earnings per share. Equities research analysts predict that Tempus AI, Inc. will post -1.38 earnings per share for the current year.
Insider Activity at Tempus AI
In other news, CEO Ryan Fukushima sold 14,286 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $70.00, for a total transaction of $1,000,020.00. Following the sale, the chief executive officer directly owned 47,420 shares in the company, valued at approximately $3,319,400. The trade was a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric P. Lefkofsky sold 132,591 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $49.61, for a total value of $6,577,839.51. Following the completion of the transaction, the chief executive officer owned 2,098,130 shares of the company’s stock, valued at $104,088,229.30. The trade was a 5.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 791,238 shares of company stock worth $39,653,732 in the last three months. Company insiders own 24.26% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its stake in shares of Tempus AI by 6,379.2% in the 2nd quarter. California State Teachers Retirement System now owns 6,977,205 shares of the company’s stock valued at $404,189,000 after purchasing an additional 6,869,519 shares during the period. GC Wealth Management RIA LLC bought a new stake in shares of Tempus AI in the 4th quarter worth about $399,267,000. Voloridge Investment Management LLC increased its position in shares of Tempus AI by 183.0% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,607,083 shares of the company’s stock worth $129,708,000 after purchasing an additional 1,039,176 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Tempus AI during the 2nd quarter worth about $54,020,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Tempus AI by 23.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,326,313 shares of the company’s stock valued at $195,636,000 after purchasing an additional 821,490 shares during the last quarter. 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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