Brokerages Set Tempus AI, Inc. (NASDAQ:TEM) Price Target at $61.18

Tempus AI, Inc. (NASDAQ:TEM) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.18.

TEM has been the subject of several research reports. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their price target for the company from $50.00 to $55.00 in a research 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. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Loop Capital dropped their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th.

Tempus AI Price Performance

TEM opened at $42.12 on Thursday. The firm has a 50 day moving average price of $56.19 and a 200-day moving average price of $50.92. Tempus AI has a twelve month low of $22.89 and a twelve month 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.

Insiders Place Their Bets

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total value 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. This represents a 19.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nadja West sold 809 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total value of $41,347.99. Following the transaction, the director now owns 37,705 shares of the company’s stock, valued at approximately $1,927,102.55. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,581,969 shares of company stock valued at $316,538,582 over the last ninety days.

Hedge Funds Weigh In On Tempus AI

Hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its stake in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after acquiring an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in shares of 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 in the last quarter. Franklin Resources Inc. increased its holdings in Tempus AI by 240.5% during the fourth 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 during the period. Finally, JPMorgan Chase & Co. raised its stake in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after buying an additional 1,651,996 shares in 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.