Tempus AI (NASDAQ:TEM) Earns Buy Rating from Needham & Company LLC

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $56.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 60.37% from the stock’s previous close.

TEM has been the topic of several other research reports. Guggenheim started coverage on shares of Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Wolfe Research assumed coverage on shares of Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. Loop Capital lifted their price objective on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America upped their price target on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.36.

Tempus AI Stock Performance

TEM opened at $34.92 on Tuesday. 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 business has a 50 day simple moving average of $47.24 and a two-hundred day simple moving average of $47.17.

Insider Activity at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total value of $7,044,568.70. Following the completion of the sale, the chief executive officer now directly owns 9,557,283 shares in the company, valued at approximately $358,780,403.82. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David R. Epstein sold 620 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares of the company’s stock, valued at approximately $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 865,041 shares of company stock valued at $35,917,673.

Institutional Trading of Tempus AI

A number of large investors have recently made changes to their positions in TEM. First Horizon Advisors Inc. bought a new position in Tempus AI during the third quarter valued at approximately $30,000. Geode Capital Management LLC grew its holdings in shares of Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares during the period. FNY Investment Advisers LLC purchased a new stake in Tempus AI during the fourth quarter valued at $67,000. Vestor Capital LLC bought a new position in Tempus AI in the third quarter valued at about $153,000. Finally, The Manufacturers Life Insurance Company boosted its position in Tempus AI by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after purchasing an additional 2,765 shares during the last quarter. 24.22% of the stock is currently owned by institutional investors.

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.