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

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $56.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 73.16% from the stock’s current price.

Several other research analysts have also recently commented on TEM. Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Guggenheim started coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Stifel Nicolaus cut 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. Loop Capital increased their target price on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research started coverage on Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Tempus AI Price Performance

NASDAQ:TEM opened at $32.34 on Tuesday. Tempus AI has a 52 week low of $22.89 and a 52 week 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 simple moving average is $48.28 and its 200 day simple moving average is $47.27.

Insiders Place Their Bets

In related news, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total transaction of $792,200.00. Following the sale, the chief operating officer now owns 982,442 shares in the company, valued at $38,914,527.62. The trade was a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total value of $7,044,568.70. Following the completion of the transaction, the chief executive officer now owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 865,041 shares of company stock valued at $35,917,673.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TEM. NEA Management Company LLC lifted its stake in shares of Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the period. Novo Holdings A S acquired a new position in Tempus AI in the second quarter valued at approximately $142,605,000. ARK Investment Management LLC boosted its holdings in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after buying an additional 1,855,459 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position 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 worth $68,922,000 after buying an additional 1,145,698 shares during the period. Finally, Lingotto Investment Management LLP bought a new stake in shares of Tempus AI in the 2nd quarter valued at $32,685,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.