Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume Following Analyst Upgrade

Tempus AI, Inc. (NASDAQ:TEM) saw unusually-strong trading volume on Tuesday after Needham & Company LLC raised their price target on the stock from $56.00 to $70.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 8,680,936 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 14,308,143 shares.The stock last traded at $60.60 and had previously closed at $69.57.

A number of other equities research analysts have also recently weighed in on the company. TD Cowen restated a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Wolfe Research started coverage on shares of Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their price target for the company from $50.00 to $55.00 in a report on Tuesday. Loop Capital reduced their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, William Blair downgraded shares of Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.55.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, CEO Eric P. Lefkofsky sold 84,640 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $80.87, for a total value of $6,844,836.80. Following the transaction, the chief executive officer now owns 4,964,820 shares of the company’s stock, valued at approximately $401,504,993.40. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James William Rogers sold 31,780 shares of Tempus AI stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $82.33, for a total value of $2,616,447.40. Following the completion of the transaction, the chief financial officer now directly owns 189,320 shares in the company, valued at $15,586,715.60. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,583,467 shares of company stock worth $130,542,311.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in shares of Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after buying an additional 278 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the 3rd quarter worth about $30,000. Geode Capital Management LLC boosted its position in Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares during the period. Operose Advisors LLC acquired a new stake in shares of Tempus AI in the fourth quarter worth $25,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after buying an additional 965 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Stock Down 10.9 %

The company’s fifty day moving average is $50.88 and its 200-day moving average is $52.03. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The company had revenue of $200.68 million during the quarter, compared to analyst estimates of $202.80 million. On average, equities research analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Tempus AI Company Profile

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.