Bank of America Forecasts Strong Price Appreciation for Tempus AI (NASDAQ:TEM) Stock

Tempus AI (NASDAQ:TEM) had its price objective increased by analysts at Bank of America from $52.00 to $54.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 31.71% from the company’s previous close.

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

Tempus AI Price Performance

TEM stock opened at $41.00 on Friday. Tempus AI has a one year low of $22.89 and a one year high of $79.49. 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 firm’s 50-day moving average price is $52.64.

Insider Buying and Selling

In related news, CFO James William Rogers sold 83,025 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 231,280 shares of the company’s stock, valued at $9,783,144. This trade represents a 26.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ryan Fukushima sold 120,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the completion of the sale, the chief operating officer now directly owns 1,007,207 shares in the company, valued at approximately $42,816,369.57. The trade was a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 650,949 shares of company stock valued at $27,821,944 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tempus AI during the 3rd quarter worth approximately $1,367,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Tempus AI during the third quarter valued at $2,726,000. Sigma Planning Corp purchased a new position in Tempus AI in the third quarter valued at $1,323,000. Finally, Dakota Wealth Management acquired a new position in shares of Tempus AI in the third quarter worth about $1,185,000. 24.22% of the stock is currently 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.