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

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 66.19% from the stock’s previous close.

A number of other brokerages have also commented on TEM. Piper Sandler cut their price target on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. TD Cowen restated a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Loop Capital decreased their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley lifted their price objective on shares of Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Finally, Bank of America increased their target price on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Tempus AI has an average rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Stock Up 4.5 %

TEM opened at $42.12 on Thursday. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. Tempus AI has a 12 month low of $22.89 and a 12 month high of $91.45. The firm’s fifty day simple moving average is $56.19 and its 200 day simple moving average is $50.92.

Insider Buying and Selling at Tempus AI

In related news, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $90.00, for a total value of $118,800.00. Following the sale, the director now owns 36,011 shares in the company, valued at approximately $3,240,990. This represents a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $603,947.30. Following the transaction, the executive vice president now directly owns 154,171 shares of the company’s stock, valued at approximately $7,088,782.58. This trade represents a 7.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,581,969 shares of company stock worth $316,538,582 over the last quarter.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently modified their holdings of the stock. ARK Investment Management LLC grew its stake in Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after buying an additional 3,141,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after acquiring an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings 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 worth $109,352,000 after acquiring an additional 2,021,394 shares during the period. Franklin Resources Inc. grew its position in shares of 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 purchasing an additional 1,950,862 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 1,651,996 shares during the period. 24.22% of the stock is 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.