Tempus AI’s (TEM) Buy Rating Reaffirmed at BTIG Research

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a research note issued on Monday, Benzinga reports. They currently have a $80.00 price objective on the stock. BTIG Research‘s target price would suggest a potential upside of 20.21% from the stock’s previous close.

TEM has been the subject of a number of other reports. HC Wainwright boosted their price objective on shares of Tempus AI from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler upgraded shares of Tempus AI from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $56.00 to $76.00 in a research note on Tuesday, September 1st. TD Cowen reaffirmed a “buy” rating on shares of Tempus AI in a research note on Wednesday, July 15th. Freedom Capital upgraded shares of Tempus AI to a “hold” rating in a report on Tuesday, June 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $75.00 price objective on shares of Tempus AI in a research report on Friday. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tempus AI has a consensus rating of “Hold” and an average price target of $72.47.

Tempus AI Trading Down 1.6%

Shares of TEM stock traded down $1.06 during trading hours on Monday, hitting $66.55. 1,893,834 shares of the company’s stock traded hands, compared to its average volume of 6,169,494. Tempus AI has a 12 month low of $40.77 and a 12 month high of $93.38. The company has a quick ratio of 3.16, a current ratio of 3.30 and a debt-to-equity ratio of 3.06. The stock’s 50 day simple moving average is $69.24 and its 200 day simple moving average is $57.26. The stock has a market cap of $12.01 billion, a PE ratio of -46.11 and a beta of 3.54.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $382.49 million during the quarter, compared to analysts’ expectations of $379.69 million. Tempus AI had a negative net margin of 17.77% and a negative return on equity of 50.28%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period last year, the company earned ($0.22) earnings per share. On average, sell-side analysts anticipate that Tempus AI will post -1.43 EPS for the current year.

Insider Activity at Tempus AI

In other news, CAO Ryan Bartolucci sold 7,062 shares of Tempus AI 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 $529,650.00. Following the completion of the transaction, the chief accounting officer owned 60,804 shares in the company, valued at approximately $4,560,300. This trade represents a 10.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nadja West sold 3,000 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $69.00, for a total value of $207,000.00. Following the transaction, the director owned 31,981 shares of the company’s stock, valued at $2,206,689. This trade represents a 8.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,280,965 shares of company stock worth $80,397,564 over the last ninety days. Company insiders own 24.26% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 23.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,326,313 shares of the company’s stock valued at $195,636,000 after acquiring an additional 821,490 shares during the last quarter. Amova Asset Management Americas Inc. lifted its position in shares of Tempus AI by 23.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 4,326,313 shares of the company’s stock worth $195,549,000 after buying an additional 821,490 shares in the last quarter. Eagle Health Investments LP bought a new position in shares of Tempus AI during the 1st quarter worth approximately $11,588,000. Washington Trust Advisors Inc. raised its holdings in shares of Tempus AI by 35.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 121,039 shares of the company’s stock worth $9,913,000 after purchasing an additional 31,873 shares during the period. Finally, Swiss National Bank grew its stake in Tempus AI by 0.3% in the 1st quarter. Swiss National Bank now owns 183,500 shares of the company’s stock valued at $8,298,000 after buying an additional 600 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors.

About Tempus AI

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.