Tempus AI (NASDAQ:TEM) Shares Up 12.7% After Analyst Upgrade

Tempus AI, Inc. (NASDAQ:TEM) rose 12.7% on Wednesday after Needham & Company LLC raised their price target on the stock from $56.00 to $70.00. Needham & Company LLC currently has a buy rating on the stock. Tempus AI traded as high as $65.03 and last traded at $66.61. Approximately 7,718,975 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 14,686,510 shares. The stock had previously closed at $59.10.

Other analysts also recently issued research reports about the stock. Loop Capital decreased their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wolfe Research initiated coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. William Blair cut shares of Tempus AI from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $55.00 in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.55.

Insiders Place Their Bets

In other Tempus AI news, Director David R. Epstein sold 620 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the transaction, the director now directly owns 27,894 shares of the company’s stock, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the sale, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,583,467 shares of company stock valued at $130,542,311 over the last 90 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TEM. Kovitz Investment Group Partners LLC bought a new stake in shares of Tempus AI during the third quarter valued at approximately $1,367,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tempus AI in the 4th quarter worth $1,091,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tempus AI by 1,591.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Tempus AI during the 4th quarter valued at approximately $178,000. Finally, Captrust Financial Advisors purchased a new position in shares of Tempus AI in the third quarter valued at $2,726,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Stock Performance

The business’s fifty day moving average price is $51.28 and its two-hundred day moving average price is $52.17. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

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.