Tempus AI (NASDAQ:TEM – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $75.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 53.34% from the stock’s current price.
Several other research analysts also recently issued reports on the company. Jefferies Financial Group assumed coverage on Tempus AI in a research note on Monday, April 13th. They set an “underperform” rating and a $35.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $80.00 price objective on shares of Tempus AI in a research note on Monday, June 1st. Wolfe Research started coverage on shares of Tempus AI in a report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Wall Street Zen downgraded shares of Tempus AI from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tempus AI in a research report on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.92.
Read Our Latest Stock Analysis on Tempus AI
Tempus AI Stock Performance
Tempus AI (NASDAQ:TEM – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. The company had revenue of $348.12 million during the quarter, compared to analysts’ expectations of $345.44 million. Tempus AI had a negative net margin of 22.20% and a negative return on equity of 53.83%. The firm’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same period last year, the company posted ($0.24) earnings per share. On average, equities analysts forecast that Tempus AI will post -1.35 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO James William Rogers sold 11,529 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $55.00, for a total value of $634,095.00. Following the completion of the transaction, the chief financial officer directly owned 114,866 shares in the company, valued at approximately $6,317,630. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric P. Lefkofsky sold 166,250 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $46.70, for a total value of $7,763,875.00. Following the transaction, the chief executive officer owned 8,808,533 shares in the company, valued at $411,358,491.10. This trade represents a 1.85% decrease in their ownership of the stock. 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 616,043 shares of company stock worth $31,748,593. 24.26% of the stock is owned by company insiders.
Institutional Trading of Tempus AI
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEM. Royal Bank of Canada boosted its position in shares of Tempus AI by 201.2% in the first quarter. Royal Bank of Canada now owns 25,988 shares of the company’s stock worth $1,253,000 after acquiring an additional 17,359 shares during the last quarter. Rhumbline Advisers purchased a new position in Tempus AI during the first quarter worth approximately $116,000. Prudential Financial Inc. purchased a new position in Tempus AI during the second quarter worth approximately $276,000. Russell Investments Group Ltd. boosted its holdings in shares of Tempus AI by 21.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,527 shares of the company’s stock valued at $415,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Tempus AI by 2,926.6% during the 2nd quarter. Invesco Ltd. now owns 211,621 shares of the company’s stock valued at $13,446,000 after buying an additional 204,629 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.
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.
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