Tempus AI (NASDAQ:TEM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Tempus AI (NASDAQ:TEM) had its price target lifted by analysts at Canaccord Genuity Group from $80.00 to $95.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 39.26% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Roth Capital assumed coverage on shares of Tempus AI in a research report on Tuesday, September 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Lake Street Capital lowered shares of Tempus AI to a “hold” rating in a research report on Monday, July 20th. UBS Group started coverage on shares of Tempus AI in a research note on Wednesday, September 9th. They set a “neutral” rating and a $70.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Tempus AI in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded Tempus AI from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.84.

Tempus AI Stock Up 0.3%

NASDAQ:TEM opened at $68.22 on Monday. Tempus AI has a twelve month low of $40.77 and a twelve month high of $97.25. The company has a market cap of $12.31 billion, a price-to-earnings ratio of -47.37 and a beta of 3.54. The stock has a fifty day simple moving average of $66.88 and a 200-day simple moving average of $56.07. The company has a current ratio of 3.30, a quick ratio of 3.16 and a debt-to-equity ratio of 3.06.

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, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $382.49 million during the quarter, compared to analyst estimates of $379.69 million. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) earnings per share. Analysts anticipate that Tempus AI will post -1.38 EPS for the current year.

Insider Transactions at Tempus AI

In related news, Director Nadja West sold 3,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $69.00, for a total value of $207,000.00. Following the completion of the sale, the director directly owned 31,981 shares of the company’s stock, valued at $2,206,689. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, CAO Ryan Bartolucci sold 7,062 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $75.00, for a total transaction of $529,650.00. Following the transaction, the chief accounting officer owned 60,804 shares in the company, valued at approximately $4,560,300. The trade was a 10.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,280,965 shares of company stock valued at $80,397,564 over the last three months. 24.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tempus AI

Several hedge funds have recently modified their holdings of TEM. Arkadios Wealth Advisors lifted its holdings in shares of Tempus AI by 9.6% during the first quarter. Arkadios Wealth Advisors now owns 4,963 shares of the company’s stock worth $224,000 after purchasing an additional 435 shares during the period. GAMMA Investing LLC boosted its position in 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 buying an additional 436 shares during the last quarter. EMC Capital Management acquired a new position in Tempus AI in the 2nd quarter worth approximately $29,000. Ulland Investment Advisors LLC acquired a new position in Tempus AI in the 3rd quarter worth approximately $41,000. Finally, NewEdge Advisors LLC raised its position in Tempus AI by 1.3% during the 1st quarter. NewEdge Advisors LLC now owns 42,996 shares of the company’s stock worth $1,944,000 after buying an additional 536 shares during the last quarter. Hedge funds and other institutional investors 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.