Canaccord Genuity Group Issues Pessimistic Forecast for Tempus AI (NASDAQ:TEM) Stock Price

Tempus AI (NASDAQ:TEM) had its target price dropped by stock analysts at Canaccord Genuity Group from $95.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 24.11% from the company’s current price.

Several other research firms also recently weighed in on TEM. Cowen downgraded shares of Tempus AI from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. TD Cowen lowered Tempus AI from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research note on Tuesday, October 21st. JPMorgan Chase & Co. dropped their target price on Tempus AI from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, December 15th. HC Wainwright cut their target price on Tempus AI from $98.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Needham & Company LLC boosted their price target on shares of Tempus AI from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.00.

Tempus AI Stock Performance

Shares of NASDAQ:TEM opened at $64.46 on Monday. The company has a debt-to-equity ratio of 2.45, a current ratio of 3.28 and a quick ratio of 3.12. Tempus AI has a 1 year low of $31.36 and a 1 year high of $104.32. The firm has a market capitalization of $11.47 billion, a PE ratio of -54.17 and a beta of 4.99. The business’s 50 day moving average price is $77.83 and its 200-day moving average price is $73.81.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. Tempus AI had a negative return on equity of 73.21% and a negative net margin of 18.45%.The firm had revenue of $334.21 million during the quarter, compared to the consensus estimate of $328.89 million. During the same period in the prior year, the company earned ($0.46) EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. As a group, equities research analysts expect that Tempus AI will post -6.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Erik Phelps sold 1,302 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $67.42, for a total value of $87,780.84. Following the transaction, the executive vice president owned 89,280 shares of the company’s stock, valued at $6,019,257.60. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James William Rogers sold 19,966 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $73.20, for a total value of $1,461,511.20. Following the sale, the chief financial officer directly owned 111,250 shares of the company’s stock, valued at $8,143,500. The trade was a 15.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,099,082 shares of company stock valued at $86,142,187. 26.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in TEM. Cranbrook Wealth Management LLC acquired a new position in shares of Tempus AI in the 3rd quarter worth approximately $25,000. Concord Wealth Partners raised its position in Tempus AI by 308.0% in the second quarter. Concord Wealth Partners now owns 408 shares of the company’s stock valued at $26,000 after purchasing an additional 308 shares during the period. JPL Wealth Management LLC acquired a new position in Tempus AI during the third quarter worth $26,000. GAMMA Investing LLC acquired a new position in Tempus AI during the third quarter worth $28,000. Finally, Allworth Financial LP boosted its position in shares of Tempus AI by 5,000.0% during the second quarter. Allworth Financial LP now owns 459 shares of the company’s stock worth $29,000 after buying an additional 450 shares during the period. 24.22% of the stock is owned by hedge funds and other institutional investors.

About Tempus AI

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.