Tempus AI (NASDAQ:TEM) Trading Up 1.2% – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price traded up 1.2% during trading on Wednesday . The stock traded as high as $70.50 and last traded at $70.97. 4,723,458 shares were traded during mid-day trading, a decline of 33% from the average session volume of 7,026,836 shares. The stock had previously closed at $70.11.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. William Blair reissued a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. BTIG Research began coverage on Tempus AI in a report on Monday, April 21st. They issued a “buy” rating and a $60.00 price target for the company. Finally, JPMorgan Chase & Co. cut shares of Tempus AI from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.42.

Tempus AI Stock Down 1.4%

The stock has a market capitalization of $11.96 billion and a P/E ratio of -8.86. The firm has a 50 day moving average of $58.21 and a 200-day moving average of $52.66. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The company had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The business’s revenue was up 75.4% on a year-over-year basis. On average, equities research analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tempus AI news, EVP Andrew Polovin sold 17,552 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $63.43, for a total transaction of $1,113,323.36. Following the sale, the executive vice president now directly owns 138,877 shares of the company’s stock, valued at approximately $8,808,968.11. This represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ryan M. Bartolucci sold 6,073 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $63.23, for a total transaction of $383,995.79. Following the completion of the transaction, the chief accounting officer now directly owns 47,799 shares in the company, valued at approximately $3,022,330.77. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 359,897 shares of company stock valued at $23,880,283 in the last 90 days. 27.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors have recently modified their holdings of TEM. Vanguard Group Inc. raised its position in shares of Tempus AI by 6,247.5% in the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock valued at $289,204,000 after buying an additional 5,900,668 shares in the last quarter. ARK Investment Management LLC raised its stake in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after buying an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after buying an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after acquiring an additional 1,651,996 shares in the last quarter. Institutional investors own 24.22% of the company’s stock.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.