Canaccord Genuity Group Cuts Tempus AI (NASDAQ:TEM) Price Target to $80.00

Tempus AI (NASDAQ:TEM) had its price target reduced by Canaccord Genuity Group from $95.00 to $80.00 in a research note released on Monday, MarketBeat reports. They currently have a buy rating on the stock.

Several other brokerages have also weighed in on TEM. Cowen lowered Tempus AI from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. HC Wainwright cut their price objective on shares of Tempus AI from $98.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Guggenheim boosted their price objective on shares of Tempus AI from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. dropped their target price on shares of Tempus AI from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, December 15th. Finally, TD Cowen lowered shares of Tempus AI from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a research note on Tuesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tempus AI has a consensus rating of “Hold” and an average target price of $84.00.

Tempus AI Trading Down 1.0%

Shares of NASDAQ:TEM opened at $64.10 on Monday. Tempus AI has a 52 week low of $31.36 and a 52 week high of $104.32. The company’s 50 day moving average is $76.20 and its two-hundred day moving average is $73.81. The company has a market cap of $11.40 billion, a PE ratio of -53.86 and a beta of 4.99. The company has a current ratio of 3.28, a quick ratio of 3.12 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM) last issued its earnings results on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $334.21 million during the quarter, compared to the consensus estimate of $328.89 million. Tempus AI had a negative net margin of 18.45% and a negative return on equity of 73.21%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. Equities analysts predict that Tempus AI will post -6.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Tempus AI

In related news, EVP Andrew Polovin sold 12,874 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $75.00, for a total value of $965,550.00. Following the completion of the sale, the executive vice president owned 107,590 shares in the company, valued at $8,069,250. This represents a 10.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric P. Lefkofsky sold 332,500 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $89.11, for a total transaction of $29,629,075.00. Following the transaction, the chief executive officer directly owned 9,074,532 shares in the company, valued at $808,631,546.52. The trade was a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 932,832 shares of company stock valued at $71,324,324. Insiders own 26.27% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently modified their holdings of TEM. Invesco Ltd. purchased a new position in Tempus AI during the first quarter worth about $337,000. HighTower Advisors LLC purchased a new position in Tempus AI in the first quarter worth $320,000. Russell Investments Group Ltd. acquired a new stake in Tempus AI in the first quarter valued at $260,000. Hsbc Holdings PLC purchased a new stake in shares of Tempus AI during the 1st quarter worth $4,423,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Tempus AI during the 1st quarter worth $53,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

About Tempus AI

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.