Analysts at Cantor Fitzgerald initiated coverage on shares of Tempus AI (NASDAQ:TEM – Get Free Report) in a research note issued on Wednesday, MarketBeat.com reports. The firm set an “overweight” rating and a $80.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 28.47% from the stock’s previous close.
A number of other equities analysts have also recently commented on TEM. TD Cowen reaffirmed a “buy” rating on shares of Tempus AI in a research report on Wednesday, July 15th. Stifel Nicolaus cut their target price on shares of Tempus AI from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, August 3rd. Freedom Capital raised shares of Tempus AI to a “hold” rating in a report on Tuesday, June 30th. HC Wainwright lowered their price target on shares of Tempus AI from $64.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Wolfe Research started coverage on shares of Tempus AI in a research report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.14.
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Tempus AI Stock Performance
Tempus AI (NASDAQ:TEM – Get Free Report) last issued its 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 company had revenue of $382.49 million during 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 in the previous year, the company posted ($0.22) EPS. On average, equities research analysts expect that Tempus AI will post -1.38 earnings per share for the current year.
Insider Activity at Tempus AI
In related news, Director Nadja West sold 3,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $69.00, for a total value of $207,000.00. Following the transaction, the director directly owned 31,981 shares in the company, valued at approximately $2,206,689. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Polovin sold 7,927 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $56.00, for a total transaction of $443,912.00. Following the transaction, the executive vice president directly owned 138,140 shares in the company, valued at approximately $7,735,840. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 1,043,988 shares of company stock valued at $56,963,417. 24.26% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in shares of Tempus AI by 6,379.2% during the second quarter. California State Teachers Retirement System now owns 6,977,205 shares of the company’s stock worth $404,189,000 after purchasing an additional 6,869,519 shares during the period. Voloridge Investment Management LLC boosted its stake in shares of Tempus AI by 183.0% in the third quarter. Voloridge Investment Management LLC now owns 1,607,083 shares of the company’s stock valued at $129,708,000 after buying an additional 1,039,176 shares during the period. AQR Capital Management LLC acquired a new stake in Tempus AI during the second quarter worth approximately $54,020,000. Sumitomo Mitsui Trust Group Inc. grew its position in Tempus AI by 23.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,326,313 shares of the company’s stock worth $195,636,000 after buying an additional 821,490 shares in the last quarter. Finally, Amova Asset Management Americas Inc. increased its stake in Tempus AI by 23.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 4,326,313 shares of the company’s stock worth $195,549,000 after acquiring an additional 821,490 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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