Tempus AI’s (TEM) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Tempus AI (NASDAQ:TEM) in a research report released on Wednesday,Benzinga reports. They currently have a $70.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Loop Capital dropped their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. William Blair restated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler reduced their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.08.

Tempus AI Price Performance

Shares of TEM opened at $58.76 on Wednesday. The firm has a 50-day simple moving average of $47.93 and a two-hundred day simple moving average of $50.76. Tempus AI has a 1-year low of $22.89 and a 1-year high of $91.45. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Tempus AI (NASDAQ:TEM) last announced its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analysts’ expectations of $248.13 million. Tempus AI’s revenue for the quarter was up 75.4% compared to the same quarter last year. On average, analysts anticipate that Tempus AI will post -6.15 EPS for the current year.

Insider Buying and Selling

In related news, EVP Andrew Polovin sold 13,135 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now owns 154,171 shares in the company, valued at $7,088,782.58. This trade represents a 7.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nadja West sold 809 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the transaction, the director now owns 37,705 shares in the company, valued at $1,927,102.55. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,297,949 shares of company stock valued at $255,591,733 over the last three months. 27.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its stake in shares of Tempus AI by 35.9% in the first quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company’s stock valued at $361,867,000 after purchasing an additional 1,981,755 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in Tempus AI by 31.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company’s stock valued at $205,401,000 after buying an additional 1,021,460 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company’s stock valued at $205,284,000 after acquiring an additional 1,016,384 shares during the period. Franklin Resources Inc. boosted its stake in shares of Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after acquiring an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after acquiring an additional 1,651,996 shares during the period. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.