Tempus AI (NASDAQ:TEM) Stock Price Up 7.5% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) was up 7.5% during trading on Monday . The stock traded as high as $55.70 and last traded at $55.9350. 2,339,854 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 5,814,483 shares. The stock had previously closed at $52.05.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered 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 note on Monday, August 3rd. BTIG Research decreased their price objective on shares of Tempus AI from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tempus AI in a research note on Wednesday, June 17th. Lake Street Capital downgraded shares of Tempus AI to a “hold” rating in a report on Monday, July 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Tempus AI in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $64.92.

Tempus AI Trading Up 6.5%

The company has a market cap of $10.01 billion, a price-to-earnings ratio of -38.49 and a beta of 3.58. The company has a quick ratio of 3.16, a current ratio of 3.30 and a debt-to-equity ratio of 3.06. The firm has a 50 day moving average price of $51.33 and a two-hundred day moving average price of $51.83.

Tempus AI (NASDAQ:TEM) last released 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 business had revenue of $382.49 million during the quarter, compared to analysts’ expectations 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 was up 21.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share. As a group, equities analysts forecast that Tempus AI, Inc. will post -1.38 earnings per share for the current year.

Insider Transactions at Tempus AI

In other Tempus AI news, Director Jennifer A. Doudna sold 2,673 shares of Tempus AI stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $55.00, for a total transaction of $147,015.00. Following the transaction, the director owned 25,942 shares of the company’s stock, valued at $1,426,810. This trade represents a 9.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Fukushima sold 23,818 shares of Tempus AI stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $46.19, for a total transaction of $1,100,153.42. Following the completion of the sale, the chief executive officer directly owned 143,945 shares in the company, valued at $6,648,819.55. This trade represents a 14.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 723,981 shares of company stock worth $34,879,442. 24.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently modified their holdings of TEM. Monetta Financial Services Inc. purchased a new position in shares of Tempus AI during the second quarter worth about $1,159,000. Handelsbanken Fonder AB increased its position in shares of Tempus AI by 4.1% during the second quarter. Handelsbanken Fonder AB now owns 32,900 shares of the company’s stock valued at $1,906,000 after buying an additional 1,300 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Tempus AI by 293.4% in the 2nd quarter. CoreCap Advisors LLC now owns 1,019 shares of the company’s stock valued at $59,000 after purchasing an additional 760 shares during the period. NewEdge Advisors LLC increased its stake in shares of Tempus AI by 1.3% in the 1st quarter. NewEdge Advisors LLC now owns 42,996 shares of the company’s stock worth $1,944,000 after acquiring an additional 536 shares in the last quarter. Finally, Avidity Partners Management LP bought a new stake in shares of Tempus AI in the 1st quarter worth approximately $1,130,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.