Tempus AI (NASDAQ:TEM) Price Target Raised to $60.00 at Bank of America

Tempus AI (NASDAQ:TEM) had its price objective upped by Bank of America from $54.00 to $60.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on TEM. Needham & Company LLC upped their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, William Blair reiterated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.09.

Tempus AI Trading Down 9.3 %

TEM stock opened at $50.93 on Monday. Tempus AI has a one year low of $22.89 and a one year high of $91.45. The firm has a 50 day simple moving average of $52.70 and a two-hundred day simple moving average of $52.52. 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 Tempus AI news, CAO Ryan M. Bartolucci sold 13,770 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the completion of the transaction, the insider now owns 15,218,365 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 5,823,701 shares of company stock worth $320,906,059.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TEM. Janney Capital Management LLC bought a new position in shares of Tempus AI in the 3rd quarter worth about $385,000. Vestor Capital LLC bought a new position in shares of Tempus AI in the 3rd quarter worth about $153,000. ARK Investment Management LLC increased its stake in shares of Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Tempus AI in the 3rd quarter worth about $1,323,000. Finally, GSA Capital Partners LLP bought a new position in shares of Tempus AI in the 3rd quarter worth about $306,000. 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.