HC Wainwright Cuts Tempus AI (NASDAQ:TEM) Price Target to $56.00

Tempus AI (NASDAQ:TEM) had its price objective decreased by equities research analysts at HC Wainwright from $64.00 to $56.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 20.20% from the company’s current price.

Several other research analysts also recently issued reports on TEM. Freedom Capital upgraded shares of Tempus AI to a “hold” rating in a report on Tuesday, June 30th. Guggenheim boosted their price target on Tempus AI from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Jefferies Financial Group assumed coverage on Tempus AI in a report on Monday, April 13th. They set an “underperform” rating and a $35.00 price objective on the stock. Lake Street Capital lowered Tempus AI to a “hold” rating in a research note on Monday, July 20th. Finally, Stifel Nicolaus decreased their target price on shares of Tempus AI from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Tempus AI currently has an average rating of “Hold” and a consensus target price of $67.54.

Tempus AI Stock Performance

NASDAQ:TEM traded up $2.72 during mid-day trading on Monday, hitting $46.59. 3,322,703 shares of the company’s stock traded hands, compared to its average volume of 5,873,977. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of -32.43 and a beta of 3.58. The firm has a 50 day moving average of $51.40 and a two-hundred day moving average of $52.59. 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 has a 12 month low of $40.77 and a 12 month high of $104.32.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%.The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. On average, equities analysts forecast that Tempus AI will post -1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Andrew Polovin sold 8,703 shares of Tempus AI stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total value of $383,541.21. Following the transaction, the executive vice president directly owned 128,215 shares of the company’s stock, valued at $5,650,435.05. This trade represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James William Rogers sold 11,529 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $55.00, for a total value of $634,095.00. Following the sale, the chief financial officer owned 114,866 shares of the company’s stock, valued at $6,317,630. The trade was a 9.12% 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 have sold a total of 699,793 shares of company stock valued at $33,763,231 over the last quarter. 24.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors have recently modified their holdings of TEM. JPL Wealth Management LLC bought a new stake in shares of Tempus AI during the 3rd quarter worth $26,000. Los Angeles Capital Management LLC acquired a new stake in Tempus AI in the fourth quarter valued at about $27,000. Harvest Fund Management Co. Ltd bought a new position in Tempus AI in the third quarter valued at about $38,000. Whittier Trust Co. grew its position in Tempus AI by 190.0% in the first quarter. Whittier Trust Co. now owns 870 shares of the company’s stock valued at $41,000 after acquiring an additional 570 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Tempus AI by 88.8% during the second quarter. EverSource Wealth Advisors LLC now owns 691 shares of the company’s stock worth $44,000 after acquiring an additional 325 shares in the last quarter. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Company Profile

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.