Tempus AI’s (TEM) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tempus AI (NASDAQ:TEM) in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $70.00 target price on the stock.

Several other analysts also recently weighed in on TEM. William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Piper Sandler dropped their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. TD Cowen restated a “buy” rating and set a $74.00 target price (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Loop Capital dropped their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Tempus AI has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Price Performance

Shares of NASDAQ:TEM opened at $42.12 on Thursday. Tempus AI has a 52 week low of $22.89 and a 52 week high of $91.45. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company’s 50 day moving average is $56.19 and its two-hundred day moving average is $50.92.

Insiders Place Their Bets

In other news, major shareholder Bradley A. Keywell sold 170,720 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the completion of the transaction, the insider now directly owns 15,993,729 shares in the company, valued at $566,977,693.05. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the sale, the chief executive officer now directly owns 4,895,589 shares in the company, valued at approximately $287,615,853.75. This trade represents a 39.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,581,969 shares of company stock worth $316,538,582.

Institutional Trading of Tempus AI

Large investors have recently bought and sold shares of the stock. ARK Investment Management LLC lifted its position in Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after buying an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the period. Franklin Resources Inc. increased its position in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after buying an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after purchasing an additional 1,651,996 shares in the last quarter. 24.22% of the stock is currently owned by 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.