Needham & Company LLC Reiterates Buy Rating for Tempus AI (NASDAQ:TEM)

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 72.65% from the company’s previous close.

Several other analysts have also issued reports on the company. Piper Sandler dropped their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Bank of America increased their price target on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Morgan Stanley increased their price objective on shares of Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, TD Cowen reaffirmed a “buy” rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.18.

Tempus AI Price Performance

Shares of Tempus AI stock traded down $3.25 during trading on Thursday, hitting $40.55. 2,948,877 shares of the stock were exchanged, compared to its average volume of 5,469,952. 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 company has a fifty day moving average price of $57.00 and a 200-day moving average price of $51.04. Tempus AI has a 1-year low of $22.89 and a 1-year high of $91.45.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the transaction, the executive vice president now directly owns 154,171 shares of the company’s stock, valued at $7,088,782.58. The trade was a 7.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $35.10, for a total value of $9,301,500.00. Following the sale, the insider now directly owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,581,969 shares of company stock worth $316,538,582.

Institutional Trading of Tempus AI

Several large investors have recently made changes to their positions in the company. ARK Investment Management LLC raised its position in Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Tempus AI by 166.0% during the 4th 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. boosted its stake in Tempus AI by 166.0% in 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 buying an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. grew its position in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after acquiring an additional 1,950,862 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Tempus AI by 86,947.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after acquiring an additional 1,651,996 shares in the last quarter. Institutional investors and hedge funds 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.