Tempus AI (NASDAQ:TEM) Price Target Raised to $54.00

Tempus AI (NASDAQ:TEM) had its target price lifted by Bank of America from $52.00 to $54.00 in a research report sent to investors on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other brokerages have also issued reports on TEM. Loop Capital boosted their price target on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research started coverage on shares of Tempus AI in a research report on Friday. They set an “outperform” rating and a $60.00 target price on the stock. Guggenheim initiated coverage on shares of Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Price Performance

TEM opened at $41.00 on Friday. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $79.49. The stock’s 50 day simple moving average is $52.64.

Insider Transactions at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James William Rogers sold 83,025 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.30, for a total transaction of $3,511,957.50. Following the sale, the chief financial officer now directly owns 231,280 shares in the company, valued at $9,783,144. This trade represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,949 shares of company stock valued at $27,821,944.

Hedge Funds Weigh In On Tempus AI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NEA Management Company LLC purchased a new position in shares of Tempus AI during the second quarter valued at approximately $160,048,000. Novo Holdings A S bought a new position in shares of Tempus AI during the 2nd quarter valued at $142,605,000. Revolution Growth Management Company Inc. purchased a new position in shares of Tempus AI in the 2nd quarter worth $128,133,000. ARK Investment Management LLC grew its holdings in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares during the period. Finally, Alphabet Inc. purchased a new stake in Tempus AI during the second quarter valued at $54,289,000. Institutional investors own 24.22% of the company’s stock.

About Tempus AI

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.