Needham & Company LLC Reiterates “Buy” Rating for Tempus AI (NASDAQ:TEM)

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $75.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 53.34% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of Tempus AI in a research note on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Tempus AI in a research note on Wednesday, June 17th. Jefferies Financial Group assumed coverage on Tempus AI in a research note on Monday, April 13th. They issued an “underperform” rating and a $35.00 target price for the company. Freedom Capital raised Tempus AI to a “hold” rating in a research report on Tuesday, June 30th. Finally, TD Cowen restated a “buy” rating on shares of Tempus AI in a report on Wednesday. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Tempus AI currently has a consensus rating of “Hold” and a consensus price target of $68.92.

Tempus AI Trading Down 6.8%

Shares of NASDAQ TEM traded down $3.56 during midday trading on Monday, hitting $48.91. The stock had a trading volume of 6,655,264 shares, compared to its average volume of 5,884,390. The company has a fifty day moving average price of $51.60 and a 200 day moving average price of $54.00. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of -28.29 and a beta of 3.46. Tempus AI has a 1-year low of $41.73 and a 1-year high of $104.32. The company has a quick ratio of 3.15, a current ratio of 3.31 and a debt-to-equity ratio of 2.96.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.08. The firm had revenue of $348.12 million for the quarter, compared to analyst estimates of $345.44 million. Tempus AI had a negative net margin of 22.20% and a negative return on equity of 53.83%. Tempus AI’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. On average, analysts predict that Tempus AI will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Eric P. Lefkofsky sold 166,250 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $46.70, for a total transaction of $7,763,875.00. Following the completion of the transaction, the chief executive officer directly owned 8,808,533 shares in the company, valued at approximately $411,358,491.10. This represents a 1.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Polovin sold 8,703 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $44.07, for a total transaction of $383,541.21. Following the sale, the executive vice president directly owned 128,215 shares of the company’s stock, valued at $5,650,435.05. The trade was a 6.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 616,043 shares of company stock worth $31,748,593. Company insiders own 24.26% of the company’s stock.

Institutional Trading of Tempus AI

Several institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc lifted its holdings in shares of Tempus AI by 64.2% in the 4th quarter. Aberdeen Group plc now owns 263,004 shares of the company’s stock worth $15,530,000 after purchasing an additional 102,878 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Tempus AI by 291.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 48,488 shares of the company’s stock worth $2,948,000 after buying an additional 36,096 shares during the last quarter. Bogart Wealth LLC grew its stake in Tempus AI by 365,087.5% during the 4th quarter. Bogart Wealth LLC now owns 58,430 shares of the company’s stock worth $3,450,000 after buying an additional 58,414 shares during the last quarter. Alethea Capital Management LLC acquired a new stake in Tempus AI in the fourth quarter worth $1,863,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Tempus AI by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,504,823 shares of the company’s stock worth $206,960,000 after buying an additional 41,728 shares during the period. 24.22% of the stock is owned by institutional investors and hedge funds.

About Tempus AI

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.