Tempus AI (NASDAQ:TEM) Stock Price Up 4% Following Analyst Upgrade

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded up 4% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $45.00 to $70.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Tempus AI traded as high as $70.15 and last traded at $70.9790. Approximately 1,277,730 shares were traded during trading, a decline of 79% from the average daily volume of 6,196,327 shares. The stock had previously closed at $68.22.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group raised their target price on shares of Tempus AI from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald initiated coverage on Tempus AI in a report on Wednesday, September 2nd. They set an “overweight” rating and a $80.00 price target for the company. Piper Sandler raised Tempus AI from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $56.00 to $76.00 in a research report on Tuesday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $75.00 price objective on shares of Tempus AI in a research note on Friday, July 31st. Finally, Freedom Capital upgraded Tempus AI to a “hold” rating in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tempus AI presently has a consensus rating of “Hold” and a consensus price target of $72.37.

Insider Activity at Tempus AI

In other news, EVP Andrew Polovin sold 22,148 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $49.61, for a total value of $1,098,762.28. Following the transaction, the executive vice president directly owned 146,067 shares of the company’s stock, valued at $7,246,383.87. This represents a 13.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Ryan Fukushima sold 41,095 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $49.61, for a total transaction of $2,038,722.95. Following the sale, the chief executive officer owned 562,463 shares of the company’s stock, valued at approximately $27,903,789.43. This represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,280,965 shares of company stock valued at $80,397,564. 24.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Tempus AI during the third quarter worth approximately $27,000. Mather Group LLC. acquired a new stake in Tempus AI during the 3rd quarter worth approximately $79,000. Essex LLC acquired a new stake in Tempus AI during the 3rd quarter worth approximately $209,000. Ulland Investment Advisors LLC acquired a new stake in Tempus AI during the 3rd quarter worth approximately $41,000. Finally, Fagan Associates Inc. bought a new stake in Tempus AI in the 3rd quarter valued at $5,265,000. 24.22% of the stock is owned by institutional investors.

Tempus AI Price Performance

The company has a current ratio of 3.30, a quick ratio of 3.16 and a debt-to-equity ratio of 3.06. The company has a 50 day moving average of $67.81 and a 200-day moving average of $56.43. The firm has a market capitalization of $12.83 billion, a P/E ratio of -49.40 and a beta of 3.54.

Tempus AI (NASDAQ:TEM) last announced its earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. The company had revenue of $382.49 million during the quarter, compared to analysts’ expectations of $379.69 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Tempus AI’s quarterly revenue was up 21.6% on a year-over-year basis. On average, sell-side analysts predict that Tempus AI, Inc. will post -1.38 EPS for the current year.

About Tempus AI

Tempus AI, Inc is a technology company focused on applying artificial intelligence and data analytics to precision medicine. The company develops tools intended to help physicians make more informed treatment decisions by combining clinical information, molecular data and other health-related datasets.

Tempus provides genomic testing and diagnostic services, including sequencing and other molecular tests used primarily in oncology. Its platform also offers data and software solutions designed to support clinical research, pharmaceutical development, patient identification for clinical trials and the development of personalized treatment strategies.

Founded in 2015, Tempus is headquartered in Chicago and primarily serves healthcare providers, researchers and life sciences companies.