Tempus AI (NASDAQ:TEM) Stock Price Target Raised at Canaccord Genuity Group

by · The Markets Daily

Tempus AI (NASDAQ:TEM – Get Free Report) had its target price boosted by equities research analysts at Canaccord Genuity Group from $80.00 to $95.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 41.61% from the company’s previous close.

Several other research firms have also recently weighed in on TEM. Cantor Fitzgerald initiated coverage on shares of Tempus AI in a report on Wednesday, September 2nd. They issued an “overweight” rating and a $80.00 price target on the stock. BTIG Research raised their price objective on Tempus AI from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Lake Street Capital downgraded Tempus AI to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus cut their target price on Tempus AI from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, August 3rd. Finally, UBS Group started coverage on shares of Tempus AI in a research report on Wednesday, September 9th. They set a “neutral” rating and a $70.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.84.

Check Out Our Latest Report on Tempus AI

Tempus AI Price Performance

NASDAQ:TEM traded down $3.84 during mid-day trading on Monday, hitting $67.09. 2,064,455 shares of the stock traded hands, compared to its average volume of 6,224,575. The business’s 50-day moving average price is $66.02 and its 200 day moving average price is $55.78. 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 company has a market cap of $12.10 billion, a PE ratio of -46.67 and a beta of 3.54. Tempus AI has a 12-month low of $40.77 and a 12-month high of $97.31.

Tempus AI (NASDAQ:TEM – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $382.49 million for the quarter, compared to analysts’ expectations of $379.69 million. During the same period in the prior year, the company posted ($0.22) EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, analysts expect that Tempus AI will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO James Rogers sold 26,313 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $60.00, for a total transaction of $1,578,780.00. Following the completion of the sale, the chief financial officer owned 106,024 shares of the company’s stock, valued at approximately $6,361,440. This represents a 19.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 that occurred on 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 completion of the transaction, the chief executive officer owned 562,463 shares in the company, valued at $27,903,789.43. This represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,280,965 shares of company stock valued at $80,397,564 over the last quarter. Company insiders own 24.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GK Wealth Management LLC bought a new stake in Tempus AI during the 3rd quarter valued at $91,000. Post Resch Tallon Group Inc. bought a new stake in Tempus AI in the 3rd quarter worth $532,000. GAMMA Investing LLC increased its position in shares of Tempus AI by 54.3% in the third quarter. GAMMA Investing LLC now owns 1,239 shares of the company’s stock valued at $101,000 after acquiring an additional 436 shares during the period. Farther Finance Advisors LLC increased its position in shares of Tempus AI by 31.3% in the third quarter. Farther Finance Advisors LLC now owns 9,427 shares of the company’s stock valued at $772,000 after acquiring an additional 2,246 shares during the period. Finally, Venture Visionary Partners LLC increased its position in shares of Tempus AI by 20.2% in the third quarter. Venture Visionary Partners LLC now owns 12,024 shares of the company’s stock valued at $985,000 after acquiring an additional 2,020 shares during the period. 24.22% of the stock is owned by hedge funds and other institutional investors.

About Tempus AI

(Get Free Report)

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.

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