BTIG Research Reaffirms “Buy” Rating for Tempus AI (NASDAQ:TEM)

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research note issued to investors on Monday, Benzinga reports. They presently have a $80.00 price target on the stock. BTIG Research‘s target price suggests a potential upside of 19.27% from the stock’s previous close.

TEM has been the subject of a number of other research reports. Guggenheim increased their price objective on Tempus AI from $65.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Wall Street Zen upgraded shares of Tempus AI from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Freedom Capital raised shares of Tempus AI to a “hold” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group increased their price target on shares of Tempus AI from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, Stifel Nicolaus lowered their price target on shares of Tempus AI from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, August 3rd. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Tempus AI has a consensus rating of “Hold” and a consensus target price of $72.47.

Tempus AI Price Performance

Shares of NASDAQ:TEM opened at $67.07 on Monday. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -46.92 and a beta of 3.54. The company has a debt-to-equity ratio of 3.06, a current ratio of 3.30 and a quick ratio of 3.16. Tempus AI has a 12 month low of $40.77 and a 12 month high of $93.38. The stock’s 50 day moving average price is $69.24 and its 200 day moving average price is $57.26.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings results 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. Tempus AI had a negative return on equity of 50.28% and a negative net margin of 17.77%. The firm had revenue of $382.49 million during the quarter, compared to analyst estimates of $379.69 million. During the same period last year, the company posted ($0.22) EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. Equities research analysts anticipate that Tempus AI will post -1.43 earnings per share for the current fiscal year.

Insider Activity at Tempus AI

In related news, EVP Andrew Polovin sold 22,148 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $49.61, for a total transaction of $1,098,762.28. Following the completion of the sale, the executive vice president directly owned 146,067 shares in the company, valued at approximately $7,246,383.87. This trade represents a 13.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $42.06, for a total transaction of $10,515,000.00. Following the completion of the transaction, the chief executive officer owned 200,000 shares in the company, valued at approximately $8,412,000. This trade represents a 55.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,280,965 shares of company stock worth $80,397,564. 24.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Tempus AI during the 3rd quarter worth approximately $27,000. EMC Capital Management acquired a new stake in Tempus AI during the 2nd quarter worth $29,000. Ulland Investment Advisors LLC purchased a new stake in Tempus AI in the third quarter valued at $41,000. Eastern Bank purchased a new stake in Tempus AI in the third quarter valued at $69,000. Finally, Whittier Trust Co. boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.