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

Needham & Company LLC reissued their buy rating on shares of Tempus AI (NASDAQ:TEM) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $70.00 price target on the stock.

TEM has been the topic of a number of other reports. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler lowered their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Loop Capital decreased their target price on 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, TD Cowen restated a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.08.

Tempus AI Price Performance

NASDAQ:TEM opened at $52.90 on Thursday. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The business has a fifty day moving average price of $49.92 and a 200-day moving average price of $50.45. Tempus AI has a one year low of $22.89 and a one year high of $91.45.

Insider Buying and Selling

In other Tempus AI news, EVP Erik Phelps sold 5,934 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $67.57, for a total value of $400,960.38. Following the transaction, the executive vice president now directly owns 214,662 shares in the company, valued at $14,504,711.34. This represents a 2.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the sale, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This represents a 39.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,584,252 shares of company stock valued at $272,870,580 in the last ninety days. 27.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TEM. Operose Advisors LLC bought a new position in shares of Tempus AI during the 4th quarter worth $25,000. Cherry Tree Wealth Management LLC bought a new position in Tempus AI during the 1st quarter worth about $31,000. Farther Finance Advisors LLC purchased a new position in Tempus AI during the 4th quarter valued at about $34,000. Prestige Wealth Management Group LLC raised its holdings in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. Finally, Continuum Advisory LLC purchased a new stake in shares of Tempus AI in the 1st quarter worth approximately $39,000. 24.22% of the stock is currently owned by hedge funds and other 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.