Tempus AI (NASDAQ:TEM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Tempus AI (NASDAQ:TEM) had its price target raised by research analysts at Needham & Company LLC from $56.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 12.43% from the stock’s current price.

Several other brokerages have also issued reports on TEM. TD Cowen restated a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Bank of America boosted their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Loop Capital decreased their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wolfe Research initiated coverage on Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $65.00 in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and an average price target of $60.55.

Tempus AI Stock Up 5.3 %

Shares of NASDAQ:TEM opened at $62.26 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 stock’s 50-day moving average is $51.84 and its 200-day moving average is $52.24. Tempus AI has a 52-week low of $22.89 and a 52-week high of $91.45.

Insider Activity

In related news, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction of $826,200.00. Following the sale, the chief accounting officer now directly owns 57,237 shares in the company, valued at approximately $3,434,220. The trade was a 19.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,583,467 shares of company stock valued at $130,542,311 over the last quarter.

Institutional Investors Weigh In On Tempus AI

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC purchased a new stake in shares of Tempus AI in the third quarter valued at $1,367,000. China Universal Asset Management Co. Ltd. bought a new position in Tempus AI during the 4th quarter worth about $1,091,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in 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 worth $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Tempus AI during the 4th quarter worth about $178,000. Finally, Captrust Financial Advisors bought a new position in Tempus AI during the 3rd quarter worth about $2,726,000. 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.