Tempus AI (NASDAQ:TEM) Price Target Raised to $70.00

Tempus AI (NASDAQ:TEM) had its price objective increased by JPMorgan Chase & Co. from $45.00 to $70.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Lake Street Capital cut Tempus AI to a “hold” rating in a report on Monday, July 20th. Cantor Fitzgerald initiated coverage on Tempus AI in a research note on Wednesday, September 2nd. They issued an “overweight” rating and a $80.00 target price on the stock. UBS Group started coverage on Tempus AI in a report on Wednesday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. BTIG Research lifted their price target on Tempus AI from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Stifel Nicolaus reduced their price target on Tempus AI from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, August 3rd. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.37.

Tempus AI Stock Down 9.0%

TEM stock opened at $64.72 on Wednesday. The company has a market capitalization of $11.68 billion, a P/E ratio of -44.94 and a beta of 3.54. Tempus AI has a 12 month low of $40.77 and a 12 month high of $96.29. The firm’s fifty day simple moving average is $68.07 and its 200-day simple moving average is $56.49. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.30 and a quick ratio of 3.16.

Tempus AI (NASDAQ:TEM) last issued 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. The firm had revenue of $382.49 million during the quarter, compared to analysts’ expectations of $379.69 million. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) earnings per share. As a group, equities research analysts forecast that Tempus AI will post -1.38 earnings per share for the current year.

Insider Activity

In other Tempus AI news, CEO Eric Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $42.06, for a total value of $10,515,000.00. Following the completion of the transaction, the chief executive officer owned 200,000 shares of the company’s stock, valued at approximately $8,412,000. The trade was a 55.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Fukushima sold 41,095 shares of the 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 directly owned 562,463 shares in the company, valued at approximately $27,903,789.43. The trade was a 6.81% decrease in their ownership of the stock. 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. Insiders sold a total of 1,280,965 shares of company stock worth $80,397,564 over the last three months. Corporate insiders own 24.26% of the company’s stock.

Hedge Funds Weigh In On Tempus AI

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Tempus AI in the third quarter valued at approximately $27,000. Cyndeo Wealth Partners LLC raised its stake in shares of Tempus AI by 6.7% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 6,412 shares of the company’s stock worth $525,000 after buying an additional 400 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Tempus AI by 9.6% during the 1st quarter. Arkadios Wealth Advisors now owns 4,963 shares of the company’s stock worth $224,000 after buying an additional 435 shares during the period. GAMMA Investing LLC lifted its position in shares of Tempus AI by 54.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,239 shares of the company’s stock valued at $101,000 after buying an additional 436 shares in the last quarter. Finally, EMC Capital Management purchased a new position in shares of Tempus AI during the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.