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

Key Points

• BTIG Research reaffirmed a Buy rating on Tempus AI with an $80 price target, implying 18.33% upside from the reported $67.61 share price. Analyst sentiment is mixed overall, with an average rating of Hold and a consensus target of $72.47.
• Tempus AI reported quarterly revenue of $382.49 million, up 21.6% year over year, and an adjusted loss of $0.04 per share—better than the $0.14 loss analysts expected.
• Insiders sold heavily over the past 90 days, totaling 1.28 million shares worth approximately $80.4 million, while institutional investors own 24.22% of the stock.

Tempus AI (NASDAQ:TEM - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BTIG Research in a research report issued on Monday, Benzinga reports. They currently have a $80.00 price objective on the stock. BTIG Research's target price suggests a potential upside of 18.33% from the company's current price.

TEM has been the topic of several other research reports. Raymond James Financial set a $80.00 price objective on Tempus AI in a report on Wednesday, September 2nd. JPMorgan Chase & Co. raised their price objective on Tempus AI from $45.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 14th. TD Cowen reissued a "buy" rating on shares of Tempus AI in a report on Wednesday, July 15th. The Goldman Sachs Group began coverage on Tempus AI in a report on Monday, September 21st. They set a "neutral" rating and a $75.00 price objective on the stock. Finally, Canaccord Genuity Group raised their price objective on Tempus AI from $80.00 to $95.00 and gave the company a "buy" rating in a report on Monday, October 12th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.47.

Tempus AI Trading Down 0.0%

NASDAQ TEM opened at $67.61 on Monday. The company has a quick ratio of 3.16, a current ratio of 3.30 and a debt-to-equity ratio of 3.06. Tempus AI has a twelve month low of $40.77 and a twelve month high of $93.38. The company has a market cap of $12.20 billion, a price-to-earnings ratio of -46.95 and a beta of 3.54. The business's fifty day moving average is $69.24 and its 200 day moving average is $57.26.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $382.49 million for the quarter, compared to the consensus estimate of $379.69 million. During the same quarter last year, the business posted ($0.22) EPS. Tempus AI's revenue for the quarter was up 21.6% on a year-over-year basis. As a group, sell-side analysts expect that Tempus AI will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Tempus AI news, CFO James Rogers sold 26,313 shares of Tempus AI stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $60.00, for a total transaction of $1,578,780.00. Following the transaction, the chief financial officer directly owned 106,024 shares of the company's stock, valued at approximately $6,361,440. The trade was a 19.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 dated Tuesday, July 28th. The stock was sold at an average price of $42.06, for a total value of $10,515,000.00. Following the transaction, the chief executive officer directly owned 200,000 shares in the company, valued at $8,412,000. The trade was a 55.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,280,965 shares of company stock valued at $80,397,564 over the last 90 days. 24.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Tempus AI by 23.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,326,313 shares of the company's stock worth $195,636,000 after buying an additional 821,490 shares during the period. Amova Asset Management Americas Inc. lifted its holdings in 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 during the period. Eagle Health Investments LP bought a new position in shares of Tempus AI in the 1st quarter worth about $11,588,000. Washington Trust Advisors Inc. raised its position 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 acquiring an additional 31,873 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Tempus AI by 0.3% in the 1st quarter. Swiss National Bank now owns 183,500 shares of the company's stock worth $8,298,000 after acquiring an additional 600 shares in the last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

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.