Tempus AI (NASDAQ:TEM) Price Target Raised to $70.00

Tempus AI (NASDAQ:TEM) had its price target lifted by Needham & Company LLC from $56.00 to $70.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on TEM. JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $55.00 in a report on Tuesday. Bank of America boosted their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim started coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. Finally, Loop Capital dropped their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Five 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

Tempus AI Price Performance

Tempus AI stock opened at $55.30 on Tuesday. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The company has a fifty day simple moving average of $52.29 and a 200-day simple moving average of $52.27. Tempus AI has a 12-month low of $22.89 and a 12-month high of $91.45.

Insiders Place Their Bets

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 shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the completion of the sale, the chief executive officer now owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This trade represents a 39.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,823,701 shares of company stock valued at $320,906,059.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEM. Wells Fargo & Company MN boosted its stake in shares of Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after acquiring an additional 278 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in Tempus AI during the third quarter worth $30,000. Geode Capital Management LLC grew its holdings in Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after purchasing an additional 539 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of Tempus AI in the fourth quarter valued at $25,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after buying an additional 965 shares during the last quarter. 24.22% of the stock is 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.