Tempus AI (NASDAQ:TEM) Stock Jumps 5.3% – Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 5.3% during mid-day trading on Wednesday. The company traded as high as $75.21 and last traded at $75.9780. Approximately 609,567 shares traded hands during trading, a decline of 90% from the average daily volume of 6,144,699 shares. The stock had previously closed at $72.15.

Wall Street Analyst Weigh In

TEM has been the topic of several recent analyst reports. Weiss Ratings upgraded Tempus AI from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 13th. UBS Group initiated coverage on Tempus AI in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. Guggenheim boosted their price objective on Tempus AI from $65.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Freedom Capital raised Tempus AI to a “hold” rating in a research report on Tuesday, June 30th. Finally, TD Cowen restated a “buy” rating on shares of Tempus AI in a research note on Wednesday, July 15th. 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $72.47.

Tempus AI Stock Up 6.1%

The company has a market cap of $13.82 billion, a P/E ratio of -53.09 and a beta of 3.54. The company has a 50 day moving average price of $69.70 and a 200-day moving average price of $56.95.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. The company had revenue of $382.49 million during the quarter, compared to analyst estimates of $379.69 million. During the same period in the previous year, the company earned ($0.22) EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, research analysts expect that Tempus AI, Inc. will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Andrew Polovin sold 2,951 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $75.00, for a total value of $221,325.00. Following the transaction, the executive vice president directly owned 135,189 shares of the company’s stock, valued at approximately $10,139,175. This trade represents a 2.14% decrease in their position. The sale was disclosed in a legal 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 Eric Lefkofsky sold 250,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $77.47, for a total transaction of $19,367,500.00. Following the sale, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $7,747,000. This represents a 71.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,030,965 shares of company stock worth $69,882,564 in the last 90 days. 24.26% of the stock is owned by corporate insiders.

Institutional Trading of Tempus AI

Institutional investors have recently modified their holdings of the company. Guardian Partners Inc. increased its holdings in Tempus AI by 8.3% in the 3rd quarter. Guardian Partners Inc. now owns 2,600 shares of the company’s stock valued at $213,000 after buying an additional 200 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Tempus AI during the 3rd quarter valued at about $27,000. Cyndeo Wealth Partners LLC increased its stake in Tempus AI by 6.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 6,412 shares of the company’s stock valued at $525,000 after acquiring an additional 400 shares during the period. Arkadios Wealth Advisors increased its stake in Tempus AI by 9.6% in the first quarter. Arkadios Wealth Advisors now owns 4,963 shares of the company’s stock valued at $224,000 after acquiring an additional 435 shares during the period. Finally, GAMMA Investing LLC raised 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 worth $101,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Company Profile

Tempus AI, Inc is a healthcare technology company that uses artificial intelligence and data analytics to support precision medicine. The company combines clinical, molecular and imaging data to help physicians make more informed treatment decisions and to help researchers and biopharmaceutical companies develop therapies.

Its offerings include genomic testing and analysis, such as tissue- and blood-based tests, as well as software tools designed to assist with clinical decision-making, patient matching for clinical trials and the management of healthcare data.