Tempus AI (NASDAQ:TEM) Shares Down 6.4% – Here’s Why

by · The Markets Daily

Tempus AI, Inc. (NASDAQ:TEMGet Free Report) shares traded down 6.4% during mid-day trading on Tuesday . The stock traded as low as $60.40 and last traded at $59.50. Approximately 6,318,504 shares traded hands during trading, a decline of 13% from the average session volume of 7,285,965 shares. The stock had previously closed at $63.54.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America boosted their price objective on Tempus AI from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, June 25th. Piper Sandler increased their price target on shares of Tempus AI from $55.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Tempus AI in a report on Wednesday, May 7th. BTIG Research started coverage on shares of Tempus AI in a research note on Monday, April 21st. They set a “buy” rating and a $60.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Check Out Our Latest Stock Report on Tempus AI

Tempus AI Price Performance

The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56. The firm has a market cap of $10.29 billion and a PE ratio of -7.65. The firm has a 50-day simple moving average of $61.71 and a 200 day simple moving average of $53.61.

Tempus AI (NASDAQ:TEMGet Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) 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. Tempus AI’s revenue was up 75.4% on a year-over-year basis. As a group, equities analysts expect that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Activity

In other news, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the sale, the chief operating officer directly owned 884,460 shares of the company’s stock, valued at $46,310,325.60. The trade was a 2.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Erik Phelps sold 51,317 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $72.56, for a total value of $3,723,561.52. Following the transaction, the executive vice president directly owned 97,779 shares of the company’s stock, valued at approximately $7,094,844.24. This trade represents a 34.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,897 shares of company stock valued at $41,261,163. 27.60% of the stock is currently owned by insiders.

Institutional Trading of Tempus AI

Institutional investors and hedge funds have recently bought and sold shares of the company. Cherry Tree Wealth Management LLC purchased a new stake in shares of Tempus AI during the first quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Tempus AI during the 1st quarter valued at $33,000. Operose Advisors LLC bought a new stake in shares of Tempus AI in the 4th quarter worth $25,000. Bartlett & CO. Wealth Management LLC raised its stake in shares of Tempus AI by 100.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock worth $39,000 after purchasing an additional 400 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new position in shares of Tempus AI in the first quarter worth $39,000. 24.22% of the stock is currently owned by institutional investors.

Tempus AI Company Profile

(Get Free Report)

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.

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