Tempus AI Shares Rise Thursday as BTIG Raises Price Target to $80

Tempus AI Inc. shares traded higher on Thursday, extending gains from the previous session.

BTIG maintained a Buy rating on Tempus AI on Thursday and raised its price target to $80.

Investors also linked a major cancer trial milestone to Tempus AI's pending $1.5 billion acquisition of Personalis Inc. Nasdaq futures fell 0.54%, while S&P 500 futures slipped 0.33%.

Clinical Trial Milestone

Merck & Co. and Moderna Inc. released Phase 3 trial results from the INTerpath-001 study on Wednesday.

The trial evaluated the combination of intismeran autogene with Keytruda.

The combination significantly improved recurrence-free survival in patients with resected melanoma. These results mark the first successful Phase 3 trial outcome for a customized mRNA-based cancer treatment.

Personalis Connection

Moderna used Personalis's sequencing platform to analyze tumor tissue and identify specific neoantigens needed to manufacture individualized doses.

This connection put the trial results in focus for Tempus AI. The company previously partnered with Personalis to commercialize minimal residual disease testing and agreed last month to acquire Personalis for $1.5 billion.

Tempus AI Technical Analysis

At $62, Tempus AI trades 26.6% above its 20-day simple moving average of $48.81 and 19.2% above its 50-day simple moving average of $51.84. The stock is also 8.5% above its 200-day simple moving average of $56.97.

However, the broader technical picture remains mixed. The 50-day simple moving average remains below the 200-day simple moving average, a result of the death cross in January. The 20-day simple moving average also remains below the 50-day simple moving average.

Traders may watch $63 as near-term resistance. Meanwhile, $61.50 could act as initial support if pre-market gains fade.

TEM Price Action: Tempus AI shares rose 1.22% to $62 in Thursday pre-market trading.