Erik Phelps Sells 8,415 Shares of Tempus AI, Inc. (NASDAQ:TEM) Stock

Tempus AI, Inc. (NASDAQ:TEM) EVP Erik Phelps sold 8,415 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $63.21, for a total transaction of $531,912.15. Following the completion of the sale, the executive vice president now owns 149,096 shares in the company, valued at approximately $9,424,358.16. This trade represents a 5.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Tempus AI Price Performance

Shares of NASDAQ:TEM opened at $62.56 on Friday. The firm’s 50 day moving average is $51.56 and its two-hundred day moving average is $52.19. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $91.45. The firm has a market capitalization of $10.77 billion and a P/E ratio of -8.02. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The business’s quarterly revenue was up 75.4% compared to the same quarter last year. Analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TEM shares. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. BTIG Research started coverage on shares of Tempus AI in a research report on Monday, April 21st. They set a “buy” rating and a $60.00 price objective for the company. Bank of America boosted their price objective on shares of Tempus AI from $48.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Tempus AI from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Tempus AI currently has a consensus rating of “Moderate Buy” and an average target price of $63.42.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Tempus AI by 12.7% in the first quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company’s stock valued at $89,000 after purchasing an additional 208 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after acquiring an additional 278 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings 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 valued at $39,000 after acquiring an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Tempus AI by 10.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company’s stock valued at $268,000 after acquiring an additional 515 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC bought a new position in shares of Tempus AI in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

About Tempus AI

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.